Refunding bonds

A complex refinancing continues Chicago's break from past scoop-and-toss deals but front-loads savings to help balance its budget.

The low-rated, Phoenix-based university turned to a public debt sale after refinancing maturing outstanding bonds with bridge loans.

The Los Angeles school district was at the forefront of a Build America Bond refunding wave with its $2.9 billion deal.

The Michigan Finance Authority closed on $79.5 million of distributable state aid fifth lien and LTGO financial recovery refunding bonds issued for Detroit.

The Chicago City Council this week approved a plan to refinance $1.5 billion of the city's debt. The city expects to issue the bonds in the fourth quarter.

Chicago's City Council deferred a vote on a $1.5 billion bond measure.

The proposed sale size has grown to $1.5 billion and the city claims it will bring $90 million in savings this year.

The University of Arizona, which was hit with negative rating outlooks earlier this year, scheduled a debt refunding led by Morgan Stanley for Wednesday.

The $105 million of power project revenue refunding bonds deal for Plum Point Energy Station in Arkansas comes amid tighter emission regulations.

The Franklin County Convention Facilities Authority will issue $138.2 million of lease revenue anticipation refunding bonds to refund or redeem outstanding Build America Bonds.