Bond defaults

A bondholder group is negotiating with the school, which continues to operate.

Bond trustee UMB Trust has engaged Lighthouse Management Group to serve as the receiver.

Legislation to continue a sales tax and revenue bond program until July 1, 2028, and allow its use for mall redevelopment projects, passed the Senate.

A charter school in San Antonio is expected to close at the end of the year, jeopardizing $25 million of municipal bonds the institution borrowed in 2022.

A federal court has given an outside debtor-in-possession loan "superpriority" over the bondholders' lien.

Management is hiring a municipal advisor to evaluate its financial strategy.

The Florida-based mining company failed to make $10 million in principal and interest payments due on Jan. 1. Florida had the largest number of defaults in 2024 at nine, per Municipal Market Analytics, Inc.

It's the latest mark of distress for proton treatment centers financed with speculative-grade municipal bonds.

Several metropolitan districts, which finance public infrastructure for housing developments, tapped contingent liquidity for debt service payments this month.

The central Texas city of Clyde said it issued tax and revenue anticipation notes with a 9.5% interest rate to repay its insurers after an Aug. 1 bond default.