The state of Wisconsin is planning to execute a $1 billion-area tobacco litigation settlement ABS by year-end, although an underwriter had not yet been named as of press time, rating-agency and bank sources said.

It is not clear whether there will be a taxable portion, although bankers are understood to have made the option readily available in their proposals to state authorities. Meanwhile, San Diego County has a $600 million-area tobacco settlement issue via Merrill Lynch scheduled for November, but this one is expected to be tax-exempt.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.