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Alabama’s Prison Bonds Hit Snag Amid Weak Demand, Litigation

  • State plans to sell $725 million of muni bonds this week
  • Orders for the securities are falling about $200 million short
Updated on

Alabama is struggling to line up buyers for a $725 million bond sale to fund its two prisons. 

Underwriters were short around $200 million of orders on the bond deal as of Tuesday, according to people familiar with the matter. Demand was weak for the 30-year maturity in particular, the people say.