Bank of New York Mellon accelerated about $116 million of toll revenue bonds due to ongoing defaults by Florida's Santa Rosa Bay Bridge Authority. The trustee said payment on the bonds is due immediately.
BNY Mellon Accelerates Payment of Defaulted Florida Toll Bridge Bonds
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY