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, followed by Norton Rose Fulbright with $1.64 billion in seven deals and Ballard Spahr with $1.55 billion in three transactions.
Chicago Mayor Brandon Johnson on Wednesday proposed a $17.3 billion fiscal year 2025 budget that calls for a $300 million property tax increase, but does not touch pension funding levels.
Municipals largely stayed in their own lane Wednesday, digesting the large slate of new issues as supply dwindles heading into election week, with Bond Buyer 30-day visible supply falling to $5.56 billion.
The future of infrastructure spending is in doubt post-election.
California's measure to lower the threshold of voter approval for bond measures will impact future transportation funding.
Nearly $1 billion of outstanding BABs may still be called back before yearend.
After a strong jobs report this month drove mortgage rates higher, the Midwest is seeing more bonds financing loans to single-family and multifamily homebuyers.
