L.A. County May Pay ‘Punitive Yield’ on Debt Sale: Muni Credit

The Los Angeles County Public Works Financing Authority is selling a combined $700 million in Build America and Recovery Zone Economic Development Bonds this week, as California issuers offer more than $3.9 billion in debt.

States and municipalities are poised to offer $11.7 billion in securities this week, the most since the five-day period ended Oct. 8, according to data compiled by Bloomberg. About $5.2 billion of sales are scheduled as taxable, an increase of 72 percent from last week, Bloomberg data show.