If Michigan Gov. Rick Snyder appoints an emergency manager for Detroit, that person will tackle $15 billion of long-term debt liabilities and try to maneuver around a $440 million swap termination payment.
Detroit's Long-Term Liabilities, Interest-Rate Swaps, Pose Threat to Operations
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