Caitlin Devitt

"It'll be very interesting to see when an event happens or the market get sloppy, what the secondary market does," said a sellside panelist at a Bond Buyer market outlook panel in Florida.

Assured's controlling vote is "important to investors who were reassured to hear that there would be a large sophisticated party with a significant economic interest in the success of the project," the insurer said.

The loan, which features a 2.5% interest rate, will finance nearly half of a community building in downtown Mount Vernon, Washington.

Sen. Joe Manchin, D-W.Va., has already pledged to try to overturn the rule in Congress.

Subcommittee Chair Rep. Steve Womack, R-Ark., asked Buttigieg if the $20 billion of federal commitments for transit projects over the next decade "might create a check we can't cash."

Tribal advocates hope that Congress will take up expanded tribal access to the tax-exempt market next year as the U.S. tax code takes center stage.

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.

As space becomes an increasingly important frontier for development and competition, spaceports should enjoy the same financial benefits as airports and seaports, say supporters of the federal legislation.

The company expects construction to take four years, with operations beginning in summer of 2028 ahead of the Los Angeles Olympics.

Friday price talk for the unrated tax-exempt paper was between 11% and 15%.

The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.

It's a time of change, challenge and opportunity in the infrastructure and P3 space, Patrick Harder said.

"We believe in this," Transportation Secretary Pete Buttigieg said.

The most recent open solicitation period, last October, yielded three proposals.

BABs can offer value for investors who can stomach the call risk, said municipal strategists.

"The financial and engineering industries need to align to get the owners to do what it is they need to do to make sure it's a durable asset," said Maria Lehman, immediate past president of ASCE.

Water systems will have five years to comply, although the Biden administration estimates only between 6% and 10% of systems will need to treat.

The deal comes amid market inflows and a dearth of high-yield supply, but demand will depend, as always, on the price, investors said.

Federal agencies will be required to simplify Notice of Funding Opportunities as part of a "complete overhaul" of federal financial assistance rules.

The grants come from the IRA's flagship Greenhouse Gas Reduction Fund program, which separately provides $7 billion for states and cities that has yet to be announced.