Bonds

The new bank probe by Texas Attorney General Ken Paxton is one of his first major actions since his return to the AG’s office after facing impeachment proceedings earlier this year. Texas Attorney General Ken Paxton’s office said it’s reviewing whether 10 financial companies, including Bank of America and JPMorgan Chase, violate a Republican-backed state

Mesa will head to the municipal bond market in November with up to $295 million in two deals, which will mark the largest debt issues sold by the Arizona city. The as much as $90 million of general obligation bonds and $205 million of utility systems revenue obligations were unanimously approved Monday by the city

M. Elizabeth Walker and Jerimi J. Ullom have joined law firm Barnes & Thornburg’s Indianapolis office as healthcare and public finance partners. The pair moved over from national healthcare-focused Hall Render after more than 15 years there, according to Barnes & Thornburg. “Elizabeth and Jerimi’s legal prowess in the nonprofit healthcare financing arena is a

Puerto Rico Gov. Pedro Pierluisi announced Tuesday the privatization of four Puerto Rico highways Tuesday, a deal that will lead to the paying off the $1.6 billion of Puerto Rico Highways and Transportation Authority debt remaining after a 2022 restructuring. The U.S. District Court for Puerto Rico approved a HTA plan of adjustment in October,

The city of Fishers, Indiana, is planning a $170 million lease rental revenue bond sale to finance construction of an arena for a minor league hockey team, a move that sparked a downgrade to the city. The Fishers Town Hall Building Corp. is on the calendar this week to price $160 million of tax-exempt Series

Amid a busy new-issue day, munis could not help but follow a U.S. Treasury selloff that was led by stronger economic data, reaffirming that rates will remain higher for longer. Equities were down late in the session. “The ‘higher for longer’ interest rate narrative continues to have a significant impact on all fixed income markets,”

Longtime financial advisor Chris Valentino will make the jump to banking when he joins Stifel, Nicolaus & Co. Inc. later this month. Valentino’s move comes after an 18-year career as a financial advisor, including the last five years at Indiana-based Sycamore Advisors LLC. “There’s been opportunities in the past to make this jump but I

Private entities keen to pitch Pennsylvania on public-private partnerships for transportation projects have until Nov. 10 to submit their bids. Interested companies can submit proposals “offering innovative ways to deliver transportation projects across a variety of modes including roads, bridges, rail, aviation and ports,” said a Pennsylvania Department of Transportation release announcing the open solicitation

Enjoy complimentary access to top ideas and insights — selected by our editors. The top five issues in the ranking have an average dollar volume of more than $1.2 billion. The top 20 issues have a cumulative amount of more than $14 billion. Scroll through to see which issues are in the top 20 for

Moody’s Investors Service retained its negative outlook on California as the state plans to sell $371 million of Public Works Board lease revenue bonds competitively on Oct. 25. The rating agency assigned a negative outlook to the state’s bonds in May, but affirmed the state’s Aa2 general obligation bond rating, amid revenue uncertainty as the

Several Puerto Rico Electric Power Authority bond parties filed objections Friday to the Oversight Board’s proposed disclosure statement, asking for it to be rejected because the plan of adjustment is unconfirmable, the way in which it was agreed upon broke the law and it omits important factors. GoldenTree Asset Management, Assured Guaranty, bond trustee U.S.

The Securities and Exchange Commission’s Examination Division will begin targeting solicitor municipal advisors in FY 2024, following the establishment of their own core standards through new MSRB Rule G-46. “The Division of Examinations plays a critical role in protecting investors and facilitating capital formation,” SEC chair Gary Gensler said in a statement. “In examining for

While municipal bond issuance is down year-over-year in most sectors, demand for bond insurance has remained strong as issuers turn to it to maximize their market access and tap into the demand from investors, market participants say. The top two municipal bond insurers wrapped $22.814 billion in the first three quarters of 2023, a slight

Connor Crews has rejoined the McGuireWoods public finance team in Raleigh after teaching for more than three years at the University of North Carolina’s School of Government. Crews will work on all aspects of public finance transactions, including governmental financings and financings for non-profit organizations. During his tenure at UNC, he taught local and state

Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription: Chip Barnett (00:04):Hi, and welcome to another edition of The Bond Buyer Podcast. I’m Chip Barnett and my guests today are Royden Durham and Tony Tanner. They’re both portfolio managers at the Aquila Group of funds, and today we’re going to

Municipals were weaker Monday, rising in sympathy with U.S. Treasuries. Equities rallied. Triple-A benchmarks were cut up three to eight basis points, depending on the scale, while UST yields were up four to nine near the close. The two-year muni-to-Treasury ratio Monday was at 70%, the three-year was at 70%, the five-year at 71%, the

In September 2008, a few days after Hurricane Ike devastated the island of Galveston and the Texas Gulf Coast, Texas A&M University Professor William Merrell had the idea for what was later dubbed the Ike Dike. “It turned out to be based on a lot of Dutch techniques, but we didn’t know that at the

As interest rates remain high and the yield curve remains inverted some bond  issuers are exploring the complexities of arbitrage for the first time.  “Arbitrage is back,” said  Kathy Kardell, senior debt administrator, Office of Budget & Finance, Hennepin County, Minnesota. “You may be able to invest the proceeds of your bonds at a rate that is

Wisconsin ended fiscal 2023 on June 30 with record-high balances of $7.07 billion for its budget and $1.8 billion in its rainy day fund, the state announced Monday. General purpose revenue tax collections totaled almost $21 billion, up 2.1% from fiscal 2022, which ended with a nearly $4.3 billion budget balance, according to a 2023

Republican Jeff Landry beat out a full slate of other hopefuls to become Louisiana’s next governor, replacing Democrat John Bel Edwards. Landry, who is the current state attorney general, will be sworn in as governor in January, taking over from Bel Edwards, who was term-limited out. He beat out a wide slate of other candidates

Issuers are facing the worst environment for bond issuances in fifty years, panelists at this year’s Government Finance Officers Association MiniMuni Conference said, and responding to this is essential for understanding voluntary disclosure for state and local governments. “Right now, unfortunately, it’s the most challenging market for finance officers to issue bonds in the last