Refunding bonds

State agencies and universities are expected to generate 26% less bond volume this fiscal year, according to the Texas Bond Review Board.

Bond director Ben Watkins lamented the loss of the refinancing tactic that helped refinance 62% of the state’s debt portfolio.

The Railsplitter Tobacco Settlement Authority will price a $679 million current and advance refunding of tobacco bonds.

A portion of the Oklahoma Turnpike Authority's $410 million deal may well be its last advance refunding.

The state increased the size of the deals by 70%, with its bond finance director citing plans by "the clowns in D.C." to outlaw advance refundings.

The California Infrastructure and Economic Development Bank approved $321 million in nonprofit conduit sales this week.

The Central Florida Expressway Authority says its deal pricing Tuesday could be up to $347 million.

Muni issuers rushing to get advance refundings done in December before Congress passes a tax bill that terminates them may face a halt in sales of state and local government securities because of the debt limit.

The state will sell $499 million various purpose GO refunding bonds.

The Central Florida Expressway Authority’s senior bonds won one-notch upgrades from Moody’s Investor Service and S&P Global Ratings.