The Municipal Bond Index for Tuesday, Nov. 4, has been revised because Standard & Poor's Securities Evaluations Inc. priced one of the bonds incorrectly. The Long Island Power Authority's 6% bond due May 1, 2033, should have been priced at 100.385. As a result, the index for Nov. 4 is now 97-23, the average dollar price is 95.32, the average yield to par call is 6.23%, and the average yield maturity is 5.94%.
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Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
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It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
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Photos from The Bond Buyer's Texas Public Finance conference.
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The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
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"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
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