Community Standouts
New Issuance
Roycemore School in Evanston, Illinois

Roycemore School defaulted this month on unrated revenue bonds issued through conduit Evanston, Illinois. The private school will close its doors in 2026-27.

Roycemore School in Evanston, Illinois

Roycemore School defaulted this month on unrated revenue bonds issued through conduit Evanston, Illinois. The private school will close its doors in 2026-27.

Anatomy of a Deal
daniels-bo
MuniThink

Serving on MSRB's Board of Directors over the past four years has been a privilege and an honor.

Andrew Kalotay says taxpayers would have come out half a billion ahead had the issuer waited out the call date instead of refunding their exempt bonds with taxable paper for 14 transactions between 2018 and 2020.
MuniThink

Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.

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