Build America Bonds

The trade group alliance is lobbying for the restoration of advance refunding and other legislative changes.

The Franklin County Convention Facilities Authority will issue $138.2 million of lease revenue anticipation refunding bonds to refund or redeem outstanding Build America Bonds.

The high-grade issue is expected to be well received by the market. D.C. joins a growing list of issuers refunding outstanding BABs amid lower rates.

The $180.24 million deal comprises $76.085 million of metropolitan district bonds and $104.155 million of consolidated public improvement bonds.

The New York City Transitional Finance Authority is set up to refund Build America Bonds as part of a $2.11 billion deal slated to land in the market this week.

Total volume currently stands at $224.13 billion, up 38.5% from $161.848 billion at this time last year. As the end of the first half approaches, several firms are revisiting their supply projections for the year, given the growth so far this year.

Dual threats of lawsuits and loss of investors loom over calling the bonds.

More than two dozen issuers have announced plans to refund their BABs this year, despite objections from investors.

Catch up on our recent coverage of the various legal issues and considerations impacting BAB redemptions.

The Turnpike Authority of Kentucky expects to sell the bonds on June 6.