$650 million in Mississippi muny bonds put on the market

Mississippi is looking to sell $650 million in taxable general obligation bonds in the municipal bond market later this afternoon, in one of the week’s more sizable offerings.

Investors are expected to receive the deal well because they may be looking to diversify their portfolios with debt from a state that is a relatively infrequent issuer.

Although Mississippi has some of the nation’s highest poverty levels and approximately 10% unemployment, it earns points for its conservative fiscal management, potential investors say.

“Mississippi is not in the same sort of fiscal straights” as states like California or Illinois, said Peter Demirali, …

Wall Street Journal
10/20/10