Public finance

The Financial Oversight and Management Board for Puerto Rico approved the plan by a 6-1 vote Thursday after negotiations with the commonwealth’s government failed.

With tax season in the rear view mirror, supply is set to rise to $7.8 billion as demand rebounds.

The deal absorbs the debt of newly acquired systems, and SSM says it will "materially" lower interest.

The commonwealth plans a competitive sale for the $500 million in fixed-rate, tax-exempt new-money general obligation bonds.

Next week's $7.8 billion new issue slate features airport and water deals coming from New York and Texas issuers.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was unchanged for the third week in a row at 3.99%.

Some say cheapness on the short end of the municipal yield curve is starting to boost investor demand.

The Puerto Rico Oversight Board’s new fiscal turnaround plan for the commonwealth may more than double debt payments to bondholders compared with earlier proposals.

One Democrat said the controversy showed the difficulty President Trump faces selling his plan to spur $1.5 trillion in infrastructure investment with an expansion of private activity bonds.

Spokane County commissioners approved issuance of $25 million in bonds to help build the Spokane Sportsplex — a proposed multiuse sports facility with capacity to host national and local events.

Illinois remains delinquent on transit aid payments, highlighting the need for RTA's working cash authorization.

Big Apple pension funds plan to divest from fossil fuel investments within five years.

With more than 100 structures closed recently due to potential safety risks, Moody's said the state’s deteriorating infrastructure is credit negative.

We have people on both sides of the aisle who have great achievements under their belts through their bi-partisan collaboration, financial ingenuity, strong commitment for public service and, equally importantly, who know how to “build bridges”, literally and figuratively.

Morgan Stanley priced $575 million of airport system bonds for Sacramento County.

The latest turnaround plan projects a surplus of $6.7 billion over the next six years before debt payments, about $400 million more than Gov. Ricardo Rossello estimated earlier this month.

Deals from Connecticut and Ohio issuers arrived as some buyside participants complained of low volume and inactivity in the muni market.

Local government public safety pension funds are armed with new funding enforcement mechanism.

La Verne, California expects to price the bonds before the end of June.

MTA's Patrick McCoy, Nixon Peabody's John Bove and Lowes Corp.'s Caroline Cruise will receive awards at the annual dinner.