News and Information from Bond Buyer

Week Of June 20 Issuer St Description Amount

CALIFORNIA

CALIFORNIA

The Puerto Rico Energy Commission approved a mechanism to support the restructuring of the debt of the Puerto Rico Electric Power Authority.

Flint, Michigan won’t walk away from its participation in the $285-million bond financed pipeline the Karegnondi Water Authority is building to deliver water to the city, a decision aided by state help and other concessions, Mayor Karen Weaver said Tuesday.

An Iowa casino and racetrack is challenging the proposed loss of its tax-exempt status by the Internal Revenue Service, claiming it lessens the burdens of government and is a legitimate 501(c)(4) social welfare organization.

Top quality municipal bonds finished weaker on Tuesday, traders said, as the first of the week’s big deals started to hit the market.

Ohio filed the first offering document for a potential new type of municipal fund security based on tax-advantaged savings accounts that help support individuals with disabilities, the Municipal Securities Rulemaking Board announced Tuesday.

Hedge funds holding Puerto Rican general obligation bonds sued the commonwealth Tuesday after debt restructuring talks broke down.

Much of the funding in Massachusetts’ new five-year, $14.8 billion capital plan goes to transit infrastructure upgrades.

The Illinois Finance Authority greenlighted $1.4 billion of borrowing plans at its June meeting, led by Presence Health’s preliminary plans to restructure debt as it works to stave off further credit erosion.

California and Oregon voters may soon have the opportunity to vote on controversial soda taxes which could bring in millions of extra dollars annually.

The Securities and Exchange Commission has settled with a former Chicago charter school operator over charges that he negligently approved and signed a misleading official statement for a $37.5 million bond offering to build three charter schools.

The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.560% high yield, a price of 99.433778.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 1/8% coupon, a 1.218% high yield, a price of 99.550203.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.250% high yield, a price of 99.980556.

The Bonistas del Patio, or “Backyard Bondholders,” is holding a forum on Monday, June 27, which will focus on the Commonwealth’s current bond situation, investments, and vision for the future. HJ Sims is participating in the event which features a special panel with appearances by the Puerto Rico gubernatorial candidates.

Top quality municipal bonds were steady to weaker at mid-session, traders said, as the first of the week’s big deals started to hit the market. Trading remained cautious ahead of the Thursday Brexit vote and Tuesday’s Congressional testimony by Fed Chair Janet Yellen.

San Diego’s Regional Transportation Agency faces opposition from environmental groups to a tax measure for November’s ballot that would raise $18 billion for the region’s transportation project

Build America Mutual started posting indicative quotes for secondary market insurance on more than 10,000 CUSIPs on the Bloomberg Professional Service, the bond insurer announced on Tuesday. All of the bonds listed have been underwritten by BAM's public finance group and pre-approved by the insurer's credit committee.