At least three issuers in the past few weeks have announced their intent to redeem Build America Bonds at par plus accrued interest because they believe the cuts in their federal subsidy payments under sequestration has triggered the extraordinary redemption provisions in their bond documents.

The Central Texas Regional Mobility Authority, an independent government agency created in 2002 in Austin  to improve transportation in Williamson and Travis counties, announced in early March it would redeem $45 million of BABs on June 5.

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