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Detroit asked the bankruptcy court to approve financing deals that would allow it to refinance up to $5.5 billion of water and sewer debt, providing the first glimpse of settlement details with the bondholders in the court request.
August 13
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Syncora Guarantee Inc. is targeting the federal mediators who crafted the main settlement at the heart of Detroit's bankruptcy exit plan, arguing that they showed illegal and politically motivated bias toward pensioners and saving the city's art.
August 12
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Detroit said a planned $300 million exit financing that key to its recovery will feature a first lien on income taxes and mature in 11 to 15 years.
August 12
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President Obama signed a 10-month, $11 billion bailout of Highway Trust Fund that ensures federal reimbursements continue to state transportation projects.
August 11
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With higher education issuance set to jump, analysts are pondering whether the higher yields on the credits are worth the risk.
August 11
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Large deals in New York and New Jersey -- led by New York City's $900 million general obligation bond refunding -- are expected to spark high demand this week due to their specialty state status despite an otherwise lackluster primary market dulled by the seasonal summer pullback in issuance.
August 10
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Detroit launched a tender offer program for holders of $5.2 billion of water and sewer bonds Thursday night, offering tender prices that range from a high of 118 cents on the dollar to a low of 72.5 cents on the dollar as it aims for a massive refinancing that will end a months-long battle with water and sewer bondholders.
August 8 -
Municipal bonds on the intermediate part of the curve outperformed long term maturities, producing a positive return with less volatility in the past 18 months, according to Granite Springs Asset Management.
August 8 -
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The Bond Buyer's muni bond indexes were narrowly mixed in the week ending Aug. 7.
August 7 -
Bond insurer Syncora Guarantee Inc., Detroit's fiercest opponent in the city's bankruptcy case, said it is already gearing up for appeals process assuming the city's plan is confirmed in a trial set to start later this month.
August 7 -
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