Pennsylvania Hears Ideas for MSA Debt

April 2006
Bond Buyer;4/20/2006, Vol. 356 Issue 32364, p1
Trade Publication
The article focuses on the proposal of bankers from Citigroup Global Markets Inc. and Morgan Stanley and Co. Inc. on how the federal state of Pennsylvania could secure the state's share in the Master Settlement Agreement that the tobacco industry and 46 states in the U.S. have inked in 1998. Citigroup's proposal called for selling 567.6 million dollars of debt, with the state to receive 511.1 million dollars in net proceeds. Morgan Stanley's presentation contemplated the benefits of securing the payments either by issuing the debt enhanced by the state's credit or issuing state revenue bonds.


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