While municipal bond sales in the U.S. are set to decline in the next month while the amount of redemptions and maturing debt rises, Louisiana will be among states with the largest offerings.
States and localities plan to sell $12.1 billion of bonds over the next 30 days, according to data compiled by Bloomberg. A week ago, the calendar showed $13.6 billion planned for the coming month. Supply figures exclude derivatives and variable-rate debt. Some municipalities set their deals less than a month before borrowing.
The Texas Transportation Commission will lead the largest sale, with plans to sell $1.75 billion of bonds, while Washington state has scheduled $942 million. Louisiana, meanwhile, will offer $584 million of gas and fuel revenue securities, and the Alabama Federal Aid Highway Finance Authority will bring $508 million to market.
Municipalities have announced $15.3 billion in redemptions and an additional $12.1 billion in  debt matures in the next 30 days, compared with the $19.8 billion total that was scheduled a week ago.
The $3.5 trillion municipal market contracted by $4.71 billion last month, with sales of $46.1 billion, compared with redemptions and maturing debt that totaled $50.8 billion. Last year, the market shrank by 4%. This year, maturities are poised to drop 38% to $176 billion from the 2014 levels. Read the full story.
