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Most tax-exempt tenders saw low participation, which is good news to the taxpayers. The poorer the participation in the tender, the less is the waste from these premature refundings prior to the call date.
February 8Kalotay Advisors LLC -
Issuance for the month is slightly above the $27.666 billion 10-year average, according to LSEG Refinitiv data.
January 31 -
The trend toward paying down debt, as opposed to tender offers or refundings, to save money cuts across Red state/Blue state lines. New Jersey retired $500 million of debt to produce $160 million of savings.
January 24 -
The state of Wisconsin is embarking on a flurry of debt-related activity as the year begins, with a cash defeasance and three refunding deals on the table.
January 17 -
Lansing's Board of Water and Light is issuing $350 million of tax-exempt bonds in a deal that would fund a tender offer for $232.6 million of outstanding debt.
January 10 -
Participants are mixed on whether there will be continued growth in 2024, but some still see a universe of taxable bonds that still can be tendered.
December 28 -
The municipal bond rally has brought two big Illinois issuers into the market with plans to sell refunding bonds this week.
December 13 -
With a high of $450 billion and a low of $330 billion, no firms currently see issuance surpassing the records hit in 2020 and 2021.
December 5 -
November's total volume rose 7.8% to $28.464 billion in 652 issues. For volume to top total 2022 issuance, December would need to see $44.329 billion of issuance.
November 30 -
The IRS concluded the examination of an advance refunding of capital improvement funds with no change to the bonds' tax-exempt status.
November 20