Friday's market column contained several errors. The headline identified Illinois' $1 billion deal as consisting of Build America Bonds when it was actually notes, and the issue is rated SP-1, not SP-1-plus, by Standard & Poor's. In addition, the notes were priced at an aggregate interest rate of 1.86%, with re-offering yields of 1.68% on the notes maturing in April 2010, and 1.73% on the notes maturing in May 2010.
Volume was robust last week, with a nearly $20 billion new-issue calendar, and while supply dips to $13 billion this week, it will end up higher thanks to four sizable prepay energy deals that priced on Monday and Tuesday.
Four deals were on the day-to-day calendar, "playing it close to the vest, and all of a sudden, boom, they all get done," said Pat Luby, head of municipal strategy at CreditSights.
A proposed $3 billion sports and entertainment district would involve bond issuance for a Dallas Stars hockey arena and public infrastructure.
Muni bond issuers cut their median audit times from 2023 to 2024, with issuers in all governmental bond and most revenue bond sectors reducing audit timelines.
Republican Spencer Pratt's second-place election-night figures have dropped behind those of City Councilwoman Nithya Raman as more votes are counted in L.A.
While the city projects a water emergency, capital costs in the state's latest water plan skyrocket and demand exceeds capacity in a state financing program.
