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Municipals hold steady as market awaits $8.9 billion calendar; Connecticut’s G.O. deal planned
By Sheri Kasprzak
New York, May 23 – Municipals were flat on the session Monday as the market prepared for about $8.9 billion of new issues, market insiders said.
The 10-year triple-A bond yield remained at 1.66%, and the 30-year bond yield held at 2.62%.
About $8.9 billion of new offerings are expected to hit the market this week.
Connecticut G.O. bonds set
Looking to the upcoming supply, Connecticut is on tap to price $500 million of general obligation refunding bonds on Tuesday. The bonds priced for retail Monday.
The deal is being offered through BofA Merrill Lynch and Williams Capital Group LP.
Proceeds from the offering will be used to refund existing G.O. bonds.
Chicago airport bonds ahead
Moving to Wednesday’s new deals, Chicago is set to price $348,315,000 of bonds for the Chicago Midway Airport.
The bonds (/A/A) will be sold through Barclays.
Proceeds will finance capital improvements to the airport and refund existing bonds.
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