Oklahoma

Oklahoma's first utility securitization bond deal related to 2021's Winter Storm Uri continued to attract criticism from a state regulator who called for an independent review.

Property owners want to halt approval of bonds for the Oklahoma Turnpike extensions.

While an Oklahoma regulatory official said the bond sale's results for ratepayers was “simply horrifying,” the rapid increase in U.S. Treasury and municipal interest rates since the start of the year were directly correlated.

The Oklahoma Turnpike Authority is seeking approval from a state oversight council for bonds to begin funding an expansion project that faces two lawsuits.

The $11-billion-plus calendar is the largest in eight weeks and includes two large high-grade issuers which may entice buyers into the market.

Seventeen months after Winter Storm Uri hit the Southwest, state-sanctioned securitizations are queuing up to mitigate a huge spike in energy costs for customers, with an Oklahoma deal the latest to price.

High energy prices and low unemployment have aided Oklahoma’s economy.

The bond proposition passed with more than 59% of the vote, according to unofficial election results.

The laws raise borrowing costs for issuers and limit the distribution networks, according to a study.

The Oklahoma Turnpike Authority took action on Thursday to head to the state Supreme Court to validate $5 billion of planned bond issuance.