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Image: Pinellas Suncoast Transit Authority
A transit bus in Pinellas County, Fla., sports the Greenlight Pinellas Plan logo, the name for the Pinellas Suncoast Transit Authority’s $2.2 billion plan to upgrade bus service and develop a new rail system.
The growing Tampa Bay area on Florida's mid-west coast plans to ease severe traffic congestion with major transit upgrades, including new light-rail systems.
Chicago needs Illinois Gov. Pat Quinn to sign legislation overhauling two of its pension funds so it can move on to a more elusive fix for its other two funds, the city's Chief Financial Officer Lois Scott said Wednesday.  more »
Faced with legal challenges to its plans for a publicly-backed hotel near the Oregon Convention Center, the Portland Metro Council has asked a judge to review its financing plan for the project.  more »
St. Louis-based SSM Health Care heads into the market Wednesday with a $260 million sale that represents one piece of a roughly $1 billion debt restructuring aimed at streamlining and trimming the system's annual interest costs.  more »
Bond Buyer Markets Reporters Maria Bonello & Hillary Flynn
The New Jersey Economic Development Authority's repricing wire for its $599.8 million two-part issuance shows the yield for the $539.8 million of school facilities construction refunding bonds maturing in five years was raised from Wednesday morning, when the deal was originally priced.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$750,000
Illinois
IL
GOs
04/24/14
9am ET
$700,000
Texas PFA
TX
Revenue bonds
04/24/14
9am ET
$632,000
New Jersey EDA
NJ
Taxable bonds
04/23/14
9am ET
$575,000
California State PWB
CA
GOs
04/22/14
12:30pm ET
$527,000
New Jersey EDA
NJ
Refunding bonds
04/23/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
5.18%
5.23%
5.40%
4.19%
20-Bond
4.32%
4.44%
5.03%
3.53%
11-Bond
4.03%
4.14%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
119-30
119-20
132-15
107-01
Average Price
104.59
104.32
105.42
84.90
Yield to Par Call
4.33
4.36
6.35
3.57
Yield to Maturity
4.64
4.66
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$225,000
Reg Trans Auth
IL
GOs
04/23/14
11am ET
$90,255
Denton
TX
COPs
04/23/14
12pm ET
$61,765
Lexington-Fayette Co Govt
KY
GOs
04/23/14
11:30am ET
$58,890
Mukilteo SD #6
WA
GOs
04/23/14
11:30am ET
$26,465
ND Bd of Hgr Ed
ND
Revs
04/23/14
12pm ET

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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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