WASHINGTON -- Bond lawyers predict that some state and local issuers will push short-term, cash-flow bond financings to market before stricter arbitrage rules take effect on Aug. 15.

"The new rules will significantly affect the sizing of larger note issues," said a bond lawyer in a western state who did not want to be identified. "I think some issuers will try to get those done by Aug. 15."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.