Muni Volume Comes Back Down to Earth
Municipal bond volume came back to earth in May, after being in orbit for most of the year, as refunding deals slipped closer to a normal level.
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Chicago heads back into the market Wednesday to convert $112 million of floating-rate sales tax-backed bonds to a fixed rate, further chipping away at bank credit risks that posed a $2.2 billion liquidity risk. more »
Peter Serreze has joined as Of Counsel in the Boston office of Locke Lord LLP, after leaving his position as a member of tax and public finance practice groups at Ropes & Gray LLP where he worked for the last 15 years. more »
Build America Mutual and Lumesis, Inc. announced a joint initiative to improve investors’ access to municipal bond credit information by making BAM’s Obligor Disclosure Brief (ODB) credit summaries available to users of Lumesis’ DIVER Advisor platform. more »
The New York City Housing Development Corp. expects in June to price its inaugural sustainable neighborhood bonds transaction — a first nationally, say officials. more »
Australian fund manager IFM Investors has paid $5.72 billion to lease the Indiana Toll Road for 66 years, marking the largest privatization for an existing U.S. asset and the first time major US pension funds have invested in American infrastructure. more »
Connecticut completed $881 million in general obligation bond sales in May including a $181 million refinancing, said Treasurer Denise Nappier. more »
A group including Bank of America Merrill Lynch as senior manager on Wednesday priced the first of four city of Chicago deals that will total $668 million. more »
Baird Advisors is expanding its municipal offerings and strategies with the addition of three new muni professionals. more »
Orange County, Fla., plans to competitively price a $170 million tourist tax refunding deal Thursday that comes to market with three rating upgrades due to substantial growth in hotel revenues. more »
Volume will drop below $6 billion in the coming week as new issuance tapers off after observance of Memorial Day on Monday. more »
Siebert Brandford Shank & Co. has been recognized for excellence in municipal trading with the first Standish Minority Business Enterprise Award. more »
New York’s MTA board approves four bond counsel firms and one disclosure firm with a goal of involving more minority- and women-owned businesses. more »
New York City intends to sell about $1.3 billion of general obligation bonds in June, officials announced. more »

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