Underwriters and issuers planning the next wave of tobacco issuance want to simplify the deals' structures to attract more investors and achieve better yields.

Officials at Bear, Stearns & Co., which will serve as senior manager to two of the upcoming offerings, said they believe eliminating the "flexible amortization" structure that created separate "planned" and "rated" maturities in the first deals will make the new transactions more understandable to municipal investors.

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