Refunding bonds

Dallas-Fort Worth International Airport has $875 million of tax-exempt refunding deals coming up and a $`1.1 billion taxable refunding in the wings.

Vermont-based liberal arts school seeks debt savings while confronting financial challenges compounded by the coronavirus pandemic.

The Move America Forward Act would permanently reinstate Build America Bonds, advance refundings and expand the issuance of private activity bonds.

The $779 million refunding will capture present value savings while pushing off some debt repayments for budget relief that Fitch called "reasonable."

Among NABL's asks from Congress is to introduce a direct-pay taxable bond program through a new proposed bill.

Public finance advocates are focused on the reinstatement of advance refunding and higher limits on bank-qualified issuance.

The package calls for reinstating advance refunding, Build America Bonds and tax credit bonds.

NABL suggested that the federal government be allowed to purchase new issues of tax-exempt bonds.

Speaker Nancy Pelosi, D-Calif., said the next package will make up for shortcomings that haven’t been addressed such as the insufficient aid to state and local governments.

Schools in 39 states had closed by Wednesday.

GLWA has the flexibility to come to market as early as this week, but is monitoring the market in light of the COVID-19 impact.

Issuers of all sizes are taking advantage of the expanding taxable investor base — from institutions to international to SMAs — as the muni market evolves.

The $5.2 billion Buckeye Tobacco Settlement Authority deal will restructure the debt service schedule, returning the Ohio credit to investment-grade.

Members of the Public Finance Network sent a letter to Congress urging restoration of advance refunding for tax-exempt bonds.

The city is pricing the bonds the week of Feb. 10 for an anticipated $7 million in savings, according to city debt manager Betsy Hruby.

While munis are a focus in the infrastructure proposal, the likelihood of coming to fruition is debatable.

House Democrats want restoration of Build America Bonds and advance refunding for municipal bonds to be key parts of their infrastructure plan.

The $760 billion, 5-year plan also calls for expanding qualified private activity bonds, reinstating tax credit bonds, and more bond-friendly provisions.

The deal comes as the state's transportation plans will shift to rely more on cash than on commission borrowing going forward.

The state sold tax-exempt refunding debt at 2019 rates but won't deliver them until 2021 when the call date of the original bonds is reached.