Triple-A Minnesota SRF Deal on Tap
Minnesota is offering $350 million of its high-grade state revolving paper in a competitive sale set for Tuesday.
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The New York MTA’s use of electrified rail service results in carbon avoidance, said finance manager Patrick McCoy, making it naturally suited to issue green bonds.
Next week’s planned $500 million green-bond issuance by New York MTA is significant on several fronts, said a capital markets climate change expert. more »
Houston’s Combined Utility System provides financing for the city’s vast water and sewer system.
Houston increased the size of its combined new money and refunding deal to $957 million as the market provided savings of $116.7 million, officials said. more »
“The issuers who were upgraded were generally those who several years ago realized there is a new fiscal reality and adjusted to it,” said PNC managing director Tom Kozlik.
Moody’s Investor’s Service downgraded more par value than it upgraded in 2015. more »
Cleveland plans a refunding for its Hopkins International Airport.
Cleveland expects $17 million in savings on its $151 million refunding issue for Cleveland Hopkins International Airport this week. more »
A California redevelopment successor agency achieved 25% savings on a $33.7 million tax allocation bond refunding. more »
"We're getting dangerously close to being in an uncomfortable situation," Houston Controller Chris Brown told the city council.
With all new leadership, the city of Houston will weigh into the bond market with $800 million of revenue and refunding bonds for its combined utility system. more »
Veteran municipal banker Faye J. Boatright has joined Blaylock Beal Van as part of an effort to expand the investment banking firm’s municipal business. more »
Kansas House Speaker Ray Merrick said the University of Kansas should have used a state-authorized issuer for its $327 million of bonds.
A $327 million University of Kansas bond sale that used a Wisconsin conduit issuer drew criticism from lawmakers seeking to ban future out-of-state deals. more »
“I expect there will be a food fight for these bonds,” said Florida bond director Ben Watkins, referring to the Cat Fund’s $1.2 billion taxable deal.
Florida’s State Board of Administration Finance Corp. will issue $1.2 billion of taxable bonds for the state’s Cat Fund, pitching investors opportunity to pick up yield. more »
UBS Wealth Management Americas reported that pretax profits plummeted 94% year-over-year as the firm racked up millions in litigation and recruiting expenses. more »
The Chicago school district added a legal argument to its sales pitch for $875 million of bonds.
The Chicago school district, bringing $875 million to market Wednesday after a week's delay, is amplifying its support for the idea that the bonds' pledged tax revenue stream could survive a Chapter 9 bankruptcy. more »
New York Mayor Bill de Blasio announced procurement rule changes to help increase city contract awards to minority- and women-owned business enterprise firms. more »
The New York City Transitional Finance Authority intends to sell $1 billion in future tax secured subordinate bonds on Feb. 9, city officials announced. more »

Career Zone


Gerrard Bushell, the new CEO and president for the Dormitory Authority of the State of New York, outlines his goals for one of the nation's leading municipal bond issuers with northeast regional reporter Andrew Coen.

While the SEC's MCDC Initiative has provided some clarity with regard to materiality and confirmed that the reasonable diligence standard of Rule 15c2-12 applies to both negotiated and competitive deals, no clarity has been offered with regard to the extent of the reasonable diligence obligations of those participating in competitive deals, as co-managers, syndicate members or selling dealers. ...

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