Build America Bonds

The Los Angeles school district was at the forefront of a Build America Bond refunding wave with its $2.9 billion deal.

Nearly $1 billion of outstanding BABs may still be called back before yearend.

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.

Alaska's efforts to manage its cyclical revenues brought an upgrade from S&P Global Ratings and positive outlook from Moody's Ratings.

The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.

Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.

The public finance industry has been tracking the growth of the IRS budget with concerns that funding boosts would translate into higher audit rates for bond transactions.

Barclays' Mikhail Foux talks shifting demand, BABs refundings, election effects and what it means for the asset class in a volatile market.

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

Market participants said it is yet to be seen whether issuers will pull back their BABs refundings due to concerns after several bondholders sent a letter to the trustee on a Regents of the University of California deal, saying it was "prohibited" from executing the redemption.