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Underwriters for up to $5.5 billion of Detroit water and sewer revenue bonds released preliminary sale documents for the deals on Tuesday as a tender offer for existing bonds continues, Reuters reported yesterday. If enough bonds are tendered by 5 p.m. EDT today and sufficient savings are projected, the refunding bonds could be sold in two issues through the Michigan Finance Authority with Citigroup as the lead underwriter. As an alternative, the bonds could be privately...

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About ABI

The American Bankruptcy Institute is the largest multi-disciplinary, non-partisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues.The ABI membership includes more than 13,000 attorneys, auctioneers, bankers, judges, lenders, professors, turnaround specialists, accountants and other bankruptcy professionals...More...