Public finance

Municipal bonds were steady to stronger on Tuesday. Taxable issuance continues its record growth, putting overall issuance on pace to be the largest year on record.

Mayor Lori Lightfoot must manage demands from aldermen without damaging the city's ratings or investor sentiments on a coronavirus-driven budget with few fans.

The board threatened legal action if the local government continued to implement the three pension laws passed in August.

Record new issuance in 2020 in the face of dealing with shutdowns, diminishing tax revenues and political unrest shows how resilient the industry is.

Squire Patton Boggs partners Rodney Slater and Alethia Nancoo view the landscape from the ground and the skies with Northeast Regional Editor Paul Burton. Slater is a former U.S. transportation secretary. Nancoo’s practice focuses on public, private and project debt finance. (31 minutes)

A long-planned Maryland light rail system, which has encountered financial and legal obstacles, could make it tougher for large-scale P3 transit projects, according to analysts.

Municipals were in a holding pattern ahead of this week's $15.8 billion new-issue slate as issuers pour debt into the market and investors remain cautious ahead of election results.

The deal is being wrapped with insurance and $300 million of the $434 million offering is supported with the state government's moral obligation backing.

The board asked the judge to not put any deadlines on the negotiations.

The issuer hopes to expand its investor base to lure European investors with the move and will explore conducting non-deal road shows to highlight its green and ESG efforts in the municipal market.

The Central Texas Regional Mobility Authority will sell $333 million of bonds and notes.

"We have no need for cash-flow relief or restructuring," said the treasurer of Dallas Area Rapid Transit, which continues to expand its rail services.

New Jersey had a choice between the Federal Reserve’s Municipal Liquidity Facility and the muni market for its upcoming $4 billion borrowing.

Ratings agencies, banks and asset managers are formulating strategies to address ESG as investors clamor for information.

The city needs to continue meeting pension commitments and moving to structural budget balance despite the coronavirus pandemic, the rating agency said.

Municipals held firm Friday as the market gets set for another week of hefty supply. Citi anticipates $550 billion in 2021, led by surge in taxable issuance.

New York's mayor is shifting $466 million to the current fiscal year’s capital budget to tackle affordable housing needs to offset some of his coronavirus-related cuts.

Municipals were little changed on Thursday as the supply surge continued ahead of the U.S. elections.

The No Place Like Home bonds, backed by a long-standing income tax surcharge, fund supportive housing for homeless people with mental health issues.

Refinancing and restructuring debt plays prominently in the city's budget plans