Friday, June 15, 2007

West Virginia Leads U.S. Municipal Borrowers; Mutual Funds See Outflows

(Bloomberg) -- West Virginia, San Antonio and
Illinois led U.S. state and local government borrowers this week
with the largest of $9 billion in long-term bond sales.

The West Virginia Tobacco Settlement Finance Authority sold
more than $900 million of taxable securities backed by annual
payments from cigarette makers. The SA Energy Acquisition Public
Facility Corp. issued $649 million of bonds to lock in a 20-year
supply of natural gas for San Antonio's CPS Energy. Illinois
offered $437 million of state bonds to refinance debt and pay
for new highway, school and public building projects.


Read more at Bloomberg Bonds News

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