Public finance

Under the proposed deal, the city would sell $650 million of judgment bonds to fund back pay for firefighters, whose wages would increase by up to 34% over the life of a new five-year contract.

The UC Regents will close the books on its $1.1 billion refunding deal that included the refunding BABs Wednesday. Investors do not appear to be penalizing the issuer in secondary trading as spreads have stayed at or near the original pricing.

The legislation gives up to $8.84 billion in bonding authority to the New Jersey Transportation Trust Fund Authority over a five-year period beginning July 1, about $1.76 billion annually.

Since becoming head of public finance at Oppenheimer in January, Coolidge said she'll be looking to pick up opportunity amid last year's Wall Street retrenchment and offer clients financing solutions from across the firm.

A freighter struck the bridge early Tuesday morning, toppling the 47 year-old structure and creating both a human tragedy and an infrastructure challenge.

IDEA Public Schools maintained its A-minus rating with a negative outlook after a settlement was reached putting the charter school system under increased state oversight.

Moody's Ratings hiked Detroit's issuer and general obligation unlimited tax bond ratings to Baa2 from Ba1, a milestone for the formerly bankrupt city.

"The upgrades incorporate our view of New Hampshire's improved economic and demographic growth trends that continue to perform near or above those of the U.S. and regional peers," said analyst Thomas Zemetis.

Gov. Spencer Cox wrapped up action on hundreds of bills passed by lawmakers, including measures to boost or limit bond issuance and potentially put some outstanding debt at risk.

This week's new-issue calendar grows and includes some "common benchmark names like CA GO, NYC GO, and WA GO," Birch Creek strategists said.

The compromise spending bill signed into law by President Biden keeps the government open, but whether that success is a sign of future cooperation isn't clear.

Three Pillars Senior Living has already pre-sold 70% of the planned units that will support the bonds.

Andrew Nakahata, who led UBS' western public finance region, will now do the same for TD Securities.

Vivian Altman ascended to managing director and head of public finance at Janney Montgomery Scott in 2017, and is now one of four women leaders in the space.

"What we're doing is just being prudent managing the risk," said Metropolitan Transportation Authority Chief Financial Officer Kevin Willens.

The calendar is led by several high-profile deals, including $2.7 billion of GOs from California, $1.5 billion from New York City and $1.1 billion from Washington. High-yield gets another dose of unrated project finance debt from Miami Worldcenter Project tax increment revenue bonds. The Bond Buyer 30-day visible supply sits at $12.06 billion.

Chicago Mayor Brandon Johnson's real estate transfer tax change ballot measure – also known as the mansion tax or Bring Chicago Home – was headed for defeat.

The initiative proposed by business interests would amend California's constitution to prevent the state from approving tax increases without a two-thirds majority vote of the Legislature and voter approval.

Set to be priced by Jefferies on Monday for retail investors and on Tuesday for institutions, New York City's tax-exempt general obligation bond deal is tentatively structured in four series with two subseries.

To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.