Refunding bonds

Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.

The Illinois Municipal Electric Agency plans to sell $600 million of refunding bonds in July, amid questions about member contracts after the bonds' maturity.

The Illinois Finance Authority will go to market with $850 million of revenue and refunding bonds for the Illinois Environmental Protection Agency next week.

The Chicago Public Schools ended the week no closer than it started to answering the question of how or if a scheduled pension payment will be made.

Mayor Brandon Johnson's team wants the Chicago Public Schools to refinance debt to free up money for a pension payment to the city.

Midwest bond sale volume peaked in the third quarter of 2024.

Blackstone Inc. is refinancing tax-exempt debt for a 76-story residential tower in downtown Manhattan designed by famed architect Frank Gehry.

Chicago plans to bring to market $806 million of bonds on Thursday, a refinancing deal that will help close its fiscal 2024 budget gap.

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.

Illinois will sell up to $1.1 billion of general obligation refunding bonds and $600 million of taxable and tax-exempt GO bonds by the end of September.

The Dallas-Fort Worth region toll highway owner and operator aims to rake in savings from the deal as it expects to cash fund a $2 billion capital plan.