Oct 29 Top municipal bond underwriters said on
Monday they are putting negotiated U.S. municipal bond sales
scheduled for this week on a day-to-day status due to the
hurricane bearing down on the East Coast.
Underwriters contacted by Reuters were Bank of America
Merrill Lynch, Morgan Stanley, J.P. Morgan Securities, Barclays
Capital and Loop Capital Markets.
Morgan Stanley is the senior manager on the week's biggest
negotiated deal -- $400 million of Connecticut general
The underwriter also postponed a $297 million Utah Transit
Authority subordinated sales tax revenue bond issue and East Bay
Municipal Utility District's $275 million revenue refunding bond
issue for California's Alameda and Contra Costa counties.
Wisconsin, which planned to launch its taxable $251 million
general fund annual appropriation refunding bond issue on Monday
through Jefferies & Co, was putting the deal on hold, a state
For a full negotiated sales calendar, see
Issuers that had scheduled competitive sales for this week
in the $3.7 trillion market were also delaying their deals amid
dire storm warnings that shuttered Wall Street and closed U.S.
bond markets early on Monday.
Virginia College Building Authority postponed its $142
million educational facilities revenue bond sale scheduled for
Tuesday, while Maryland's Washington Suburban Sanitary District
also put on hold its $250 million bond sale that was scheduled
On Friday, New Jersey postponed its competitive sale of $2.6
billion of notes.
Deals this week had been estimated to total $6.9 billion
before the postponements.