Bond defaults

Bond trustee UMB Bank notified bondholders that Branson Airport's leaders want to pursue federal grant funding for maintenance and infrastructure upgrades, but it will require bondholder approval.

The Chapter 11 case for Harvest Gold Silica follows two other bankruptcy filings over the last year by entities that sold bonds through the Arizona Industrial Development Authority.

The potential federal funding "offers the best opportunity to begin to pay bond debt," the museum's CEO told bondholders.

PureCycle Technologies announced that its Ohio subsidiary agreed to buy out the holders of $219.55 million of outstanding tax-exempt private activity bonds.

The bond trustee for the city of Nevada, Missouri-owned Nevada Regional Medical Center declared its bonds to be in default.

Bonds sold through conduit debt issuer Arizona Industrial Development Authority are involved in Chapter 11 bankruptcies filed over the last year.

Lake Erie College entered into a forbearance agreement with bondholders after the school didn't meet certain covenants it agreed to as part of a debt sale. 

Bonds used to buy eight senior living properties in Michigan and Ohio are likely to default within six months, S&P Global Ratings said.

The delays have led to a technical default by the design-build contractor on the $450 million project to design, finance, build, operate and maintain the Thruway's 27 service areas.

The College of Saint Rose, a private Roman Catholic school in Albany, said Friday it plans to close after this academic year.

Prices have fallen for Alabama private activity bonds issued for wood pellet producer Enviva amid the firm's larger struggles.

Senior Choice Inc. failed to make interest and principal payments due Oct. 31 on its $15.9 million bond issued in 2006 by the Cambria County Industrial Development Authority, according to a regulatory filing Wednesday.

The number of municipal bond delinquencies declined in the third quarter, despite some dramatic outliers that Moody's Investors Service characterized as idiosyncratic in a report released Monday.

A $25.5 million cash offer plus some equity was made to acquire Legacy Park, which was financed with $284 million of now-defaulted revenue bonds.

At least two schools are facing the legal costs of terminating the transactions as well as pursuing alternative financing for almost $500 million in construction projects.

Plans for a garbage-to-jet fuels facility in Gary, Indiana, are on hold after bonds for the same operator's plant in Nevada went into default.

Legacy Cares, which filed for bankruptcy in May, is trying to sell Legacy Park, which was financed with now-defaulted bonds issued in 2020 and 2021.

The settlement, which hinged on a successful exchange of old bonds for fresh debt, resolves long-running investor litigation.

Bondholders granted some breathing room to the speculative-grade polypropylene recycling project along the Ohio River, now reported to have entered production.

While acknowledging disputed allegations of mismanagement and infractions on the part of venue owner Legacy Cares, the judge denied a motion by the U.S. trustee in the Chapter 11 bankruptcy to appoint an independent trustee or dismiss the case.