Munis

Senior Associate, Orrick

As the country and the market hurtle toward an uncertain future, the Rising Stars will be among those working to keep states and localities strong.

Weathering headwinds from the pandemic and energy industry turmoil, the Oklahoma Department of Transportation will price $193 million for highway projects.

Pricing was delayed for a $3.2 billion municipal bond deal to finance a passenger railroad between southern California and Las Vegas.

The top municipal bond counsel firms easily surpassed 2019's pace of par amount. Year-to-date, the top-ranked firms have totaled $326.46 billion compared with last year's number of $265.99 billion.

The two active municipal bond insurers wrapped $25.22 billion in the first three quarters of 2020, a 62% surge from the $15.57 billion of deals done in the first nine months of 2019.

Municipals were a bit stronger on the long end Thursday as action heated up in the primary.

The Louisiana State Bond Commission will refinance $424 million of variable-rate bonds; the deal isn't expected to include the termination of underwater swaps.

Municipals finished little changed Wednesday as a hefty slate of new deals came to market.

The Alabama Public School and College Authority will issue nearly $1.5 billion of bonds and most of the deal will be tax-exempt new money.

Moody’s Investors Service revised the outlook on its Aa2 rating to negative ahead of the $96 million deal.

Declining occupancy levels at privatized student housing projects are likely to continue into early 2021 as the sector confronts headwind from the COVID-19 pandemic, according to analysts.

Bryant Miller Olive PA has practiced public finance and governmental law across the Sunshine State and the Southeast for five decades.

Upfront savings from the $371 million deal will improve liquidity for the authority after the coronavirus-caused traffic downturn.

Missing minimum denomination and interest rate information for VRDOs affected about 57 CUSIPs, FINRA found.

The airport will sell $925 million in a deal structured to lower short-run debt-service outlays as it manages through the coronavirus-driven air travel decline.

The Puerto Rico Aqueduct and Sewer Authority said it might be refinancing its bond debt with a new bond issue by the end of the year.

Recent toll hikes will offset a coronavirus-inspired drop in traffic and a refunding portion gives the authority "financial flexibility," according to analysts.

Advance refunding, direct-pay bonds, and increased limits on bank-qualified bonds would be among the muni-friendly tax provisions that have a good chance of becoming law if Democrats control both chambers of Congress.

The maximum allowable issuance under the SEC's temporary exemption is $20 million.