The successor agency to Monrovia, Cali's redevelopment agency refunded a five-year note that went into default last summer during the months it took to get approval from the state to refinance.
Monrovia, Calif., Refunds Defaulted RDA Notes
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