Bonds

Volatile market conditions, higher ratios and rising interest rates have led to a slowdown in Build America Bond redemptions recently, but there are still a number of issuers that have signaled they intend to call back their BABs before yearend. About $14.9 billion of BABs have been called in 2024 while $938.3 million is set

Voters next week will consider 300 transportation-related measures on state and local ballots that together are worth more than $70 billion. Eleven of the measures have the potential to generate $1 billion of revenue over the life of the tax, according to the American Road & Transportation Builders Association, which tracks the measures. ARTBA highlighted

U.S. home sales declined 2.9% in August, according to Freddie Mac, with existing home sales falling to the lowest level since October 2010.Bloomberg News As housing costs remain high, housing finance agencies in the Midwest are selling bonds to finance mortgage loans to buyers of single-family and multifamily homes. Existing home sales declined in August

Enjoy complimentary access to top ideas and insights — selected by our editors. The 10 largest underwriters of electric power issuance in the first half of 2024 accounted for $8.68 billion. Morgan Stanley was first in $2.21 billion, followed by J.P. Morgan with $1.74 billion and Goldman Sachs with $1.34 billion. Rank Underwriter Par amount 

Enjoy complimentary access to top ideas and insights — selected by our editors. The 10 largest issuers of electric power issuance in the first half of 2024 accounted for $8.224 billion. The 10 top was led by the Southern California Public Power Authority with $1.423 billion in five deals, followed by the Los Angeles Department

Enjoy complimentary access to top ideas and insights — selected by our editors. Top 10 electric power bond counsel of electric power issuance accounted for $9.36 billion in 38 deals in the first half of 2024. Orrick Herrington & Sutcliffe led the pack, accounting for $2.36 billion in nine issues for a 24.8% market share,

Secondary trading showed a weaker tone Tuesday but the focus shifted to the primary as a large slate of new issues along the credit spectrum were priced, while U.S. Treasuries improved and equities closed the session mixed. The primary was led by two large California issues, including the state’s competitive sale of tax-exempt and taxable

Oklahoma Treasurer Todd Russ, his office and his chief of staff were sued alleging they withheld documents related to the state’s anti-ESG law. Oklahoma Treasurer Todd Russ, his office and his chief of staff and deputy treasurer, Jordan Harvey, were sued last week by an open-records company that accused them of withholding and possibly destroying

A leftist candidate for Puerto Rico’s governorship has gained momentum and closed in on the front-runner, but analysts say his election would not have a dramatic impact on the future of the island’s bonds. A poll released Monday by El Vocero, a leading Puerto Rico news outlet, showed the candidate, Jose Dalmau, polling 29% compared

Early voting Saturday in Arlington, Virginia. The federal election outcome will impact tax policy and the municipal bond industry.Bloomberg News The key question for municipal market investors heading into next week’s tight federal election is less about who wins and more about by how much. Next year promises to be significant for tax policy and

Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Michael Scarchilli (00:04): Hi everyone, and welcome to The Bond Buyer podcast, your go-to source

Minute Maid Park, home of the Houston Astros, opened in 2000 as Enron Park.HCHSA The Harris County-Houston Sports Authority heads to market Tuesday with roughly $330 million in a refinancing that will flatten its debt service schedule, shed its most subordinate lien and lay the groundwork for a new-money borrowing in the future. The authority

Enjoy complimentary access to top ideas and insights — selected by our editors. The 10 largest bond counsels of education issuance in the first half of 2024 accounted for $28.829 billion. McCall Parkhurst & Horton was first with $6.554 billion in 67 issues, followed by Orrick Herrington & Sutcliffe in second with $5.822 billion in

Enjoy complimentary access to top ideas and insights — selected by our editors.  The 10 largest underwriters of education issuance in the first half of 2024 accounted for $48.172 billion. BofA Securities led the top underwriters with $7.698 billion, followed by RBC Capital Markets with $6.856 billion and Jefferies with $6.276 billion. Rank Underwriter Par

Municipals were little changed Monday as the market took a breather following volatility last week and ahead of what is expected to be the last sizable new-issue slate until well after the election. U.S. Treasuries were weaker and equities saw gains. The two-year ratio Monday was at 64%, the three-year at 63%, the five-year at

Detroit and the Michigan Finance Authority last week completed a refinancing deal for bonds issued as part of the city’s bankruptcy exit.Bloomberg News The Michigan Finance Authority this month priced for the city of Detroit a $79.51 million deal to refund debt issued to pay creditors in connection with its bankruptcy settlement. Wells Fargo priced

The Department of Transportation announced the winners of $970 million in federal grants heading to 125 US airports spreading across 46 states, Guam, and Palau.  “Investing in America’s airport infrastructure isn’t just about upgrading runways and terminals, it’s about growing local economies, creating jobs, and ensuring the safety and efficiency of travel,” said U.S. Transportation Secretary

The Securities and Exchange Commission has charged Hamlin Capital Advisors and its employee Michael Ferrell Braun with breaching its fiduciary duty by failing to disclose in a timely manner that an affiliate of the firm was buying the bonds the firm was issuing for the charter school clients, a material conflict of interest. Hamlin was

The Metropolitan College of New York is trying to sell real estate in lower Manhattan as part of a deal with bondholders allowing the school to skip a debt payment in November. The private college hired Cushman & Wakefield as its broker to market and sell “either in whole or in part” its Manhattan campus,

Enjoy complimentary access to top ideas and insights — selected by our editors. The 10 largest issuers of education issuance in the first half of 2024 accounted for $15.219 billion. The Los Angeles Unified School District ranked first with a $2.975 billion Build America Bonds redemption and general obligation bond refunding deal that priced in

Construction progress of Terminal 6 at John F. Kennedy International Airport in July.JFK Millenium Partners The P3-fueled upgrades to New York’s John F. Kennedy International Airport have another municipal bond market stamp of approval. The New York Transportation Development Corporation priced an upsized $1.9 billion of special facilities revenue bonds for the JFK Airport Terminal