DC Accelerates $1.5 Billion Debt Sale Amid Investor Demand

The District of Columbia accelerated the sale of $1.5 billion of municipal bonds by a day, taking advantage of a rally in US state and local debt that helped buoy demand for the securities.

The district and its underwriter, Wells Fargo & Co, priced the issue earlier than scheduled to benefit from a “positive market tone” following recent volatility and credit pressures after Moody’s Ratings’ downgraded the nation’s capital, according to Carmen Pigler, DC’s deputy chief financial officer and treasurer.