Public finance

A year after the traditional May bond elections were canceled because of the coronavirus pandemic, Texans will consider bonds for local issuers, mostly schools.

Officials call it the first for any state revolving fund program in the country.

An interview with Kathy Wylde, President, Partnership for New York City

The pact may generate up to $2.5 billion in revenue for the state in the next five years and $6 billion through 2030.

If sales and use tax revenues surpass May 2020 expectations, some bondholders would see increased payments.

The bonds would include a subsidy rate of 28% and would be exempt from sequestration.

Mayor Jim Kenney called the latest rescue package the only funding source that can help with coronavirus-related revenue losses.

Refinitiv Lipper reported $1.889 billion of inflows, with $641 million in high-yield. Negotiated deals repriced to lower yields while competitive loan yields were compelling from New Jersey and Los Angeles USD.

Though Republicans and Democrats are far apart on the price tag, there is agreement on the need to invest in physical infrastructure and the need to pay for it.

Mayor Eric Garcetti wants to exponentially increase spending to reduce homelessness as reports emerge that previous efforts aren't keeping pace.

The rating agency's public finance housing group is now called the Community Development and Social Lending Group.

The PFC is capped at $4.50 and that hasn’t been raised since 2000.

Bond insurers grew their business in Q1 2021 to $8.497 billion from $4.826 billion in Q1 2020 as more investors demand and issuers purchase insurance for their deals in the COVID-19 era.

High-grade scales were little changed as ICI reports the sixth week in a row of inflows to the tune of $2.29 billion into municipal bond mutual funds.

The Illinois-based health system, with a balance sheet helped by its insurance arm, will sell $600 million of AA-minus rated debt over the next month.

UTIER uses a broad range of arguments against LUMA Energy taking over Puerto Rico's energy transmission and distribution system.

Municipal triple-A benchmarks held steady as the focus was on the primary in which large new issues repriced to lower yields while secondary trading was light.

A group of GOP senators is working to put together a more traditional infrastructure bill that would range from $600 to $800 billion dollars.

New evidence in PHC's defamation case against Nuveen has surfaced that involves Citi while a separate judge is considering whether to allow an antitrust charge to proceed

Moody's says that the pension system will likely run out of money in fiscal year 2024.