Refunding bonds

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.

Halting tax-exempt advance refundings at the end of the year, as proposed by both pending tax bills, would increase issuers’ costs, deprive them of savings for new projects, and push some to enter into swaps that could increase their risk.

As the political gears churn, issuers and borrowers should huddle with legal counsel and financial advisors to consider the possibility of worst-case scenarios in which some or all of the proposed tax reform legislation is enacted.

Mike Duggan won another term in Detroit, and Flint's Karen Walker beat back a recall effort.

The city still plans to refund its outstanding water debt under its own revenue bond credit.

Luzerne County’s debt refinancing package turned out much better than planned.

The bonds will refund debt the city sold in 2012 and 2013.

The record $2.5 billion of refunding bonds from North Texas Tollway Authority attracted $19 billion of orders.

The city is looking for banks to lead a tender offer and refunding of bonds issued as part of its bankruptcy exit.

The toll revenue bond deal will put the authority's debt under one indenture.

The state will restructure an escrow account created to advance refund bonds that were found not to be callable.

The development sector grew by 36% and public facilities climbed by 11%, making them the sectors that grew by the largest percentage in the first half of the year. The sectors with the biggest declines were electric power at 55% and utilities at 23%.

The municipal market got off to a fast start in terms of issuance this year, picking up in January right where it left off from 2016’s record-setting totals. However, the pace of issuance has since slowed, leaving 2017 first-half volume lagging last year's levels.

Chicago Mayor Rahm Emanuel told investors the city will soon launch the new debt issuance vehicle.

Grand Haven city officials have signed a bond sale agreement that is expected to save city residents money on interest payments related to the repayment of the 2008 voter-approved infrastructure bond.