Minnesota bringing its largest bond issue to market

Sometimes, the old saying goes, it’s better to be lucky than smart.

Not that Kathy Kardell, assistant commissioner in Minnesota’s Management and Budget department, isn’t smart. But she and her team are definitely going to be lucky next Tuesday, when they bring the largest bond issue in Minnesota history to the market.

The $860 million in tax-exempt general obligation bonds will help finance an enormous range of transportation, education, infrastructure and environmental spending.

And investors appear ready to buy those securities at some of the lowest rates in history. Kardell said that when her department completed their preliminary offering documents on July 12 they estimated paying yields of 3.40-3.41 percent.

Read more at Finance & Commerce.