Municipals end the week unchanged; Minnesota Public Facilities Authority plans $379.34 million

By Sheri Kasprzak

New York, March 19 - Municipal yields ended a tough week fairly flat, traders reported.

"It has been a slow day so far," said one trader reached in the early afternoon.

"Yields are relatively flat. There might be some weakness out long, but it's quiet and unchanged overall."

Seen trading Friday were JEA of Florida's recently priced series A-3 electric system revenue bonds. The 4.25% 2027 bonds were trading near par.

Elsewhere, California State University's series 2010D bonds priced earlier in the week were trading. The 4.5% 2029s were seen at 4.65%.

Minnesota Public Facilities deal ahead

Looking to the primary action stacking up for the coming week, the Minnesota Public Facilities Authority plans to bring to market $379.335 million in series 2010 state revolving fund bonds on Tuesday, said a sale calendar.

The bonds (//AAA) will be sold on a competitive basis.

The sale includes $346.07 million in series 2010A bonds and $33.265 million in series 2010B bonds.

The 2010A bonds are due 2011 to 2027, and the 2010B bonds are due 2020 to 2028.

Proceeds will be used to purchase clean drinking water loans as well as refund existing debt.

South Carolina to bring two

A couple of large offerings will come to market out of the State of South Carolina. The state is expected to bring to market $336.475 million in series 2010A state highway general obligation refunding bonds on Thursday and $170 million in series 2010A state economic development G.O. bonds on Tuesday, according to a calendar of imminent sales.

Both the highway bonds and the economic development bonds (//AAA) will be sold competitively.

The highway bonds are due 2011 to 2021. The economic development bonds are due 2011 to 2025.

The state plans to use the highway bonds to refund existing bonds that were utilized to fund highway improvements. The economic development bonds will be used by Boeing Co. to develop a site in Charleston, S.C., for a new manufacturing facility.

Wisconsin sale planned

Elsewhere during the coming week, the State of Wisconsin is slated to sell $183.665 million in series 2010-2 G.O. refunding bonds through Citigroup Global Markets Inc. and Loop Capital Markets LLC.

The bonds are due 2013 to 2022.

Proceeds will be used to refund existing debt.

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