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In the first half of 2024, winding-down federal aid, a resurgence of Build America Bond refundings and election uncertainty have contributed to the surge in issuance, said James Welch, a portfolio manager at Principal Asset Management.
June 28 -
The authority is refunding its 2014A bonds to gain debt service savings.
May 30 -
The Metropolitan Washington Airports Authority plans to refund about $400 million and sell $429 million of new money for its capital construction program.
May 30 -
Alaska's efforts to manage its cyclical revenues brought an upgrade from S&P Global Ratings and positive outlook from Moody's Ratings.
May 1 -
The pace of the issuance and the increase of refundings, surging 59.6% in the first quarter of 2024, have also led some firms to up their overall 2024 issuance projections.
April 11 -
The city gave no reason for the cancellation of its redemption plans or bond issuance, but reserved the right to call the 2010B BABs for redemption in the future.
April 10 -
Two mega deals recently priced with make-whole calls for bonds due in 2034 and shorter where the market does not appear "to be penalizing issuers for including an optional make whole call feature in the short maturity tax-exempt bonds," said Pat Luby, head of Municipal Strategy at CreditSights, in a report.
April 4 -
March issuance came in at $36.405 billion, above the $34.579 billion 10-year average, according to LSEG Refinitiv data.
April 1 -
The UC Regents will close the books on its $1.1 billion refunding deal that included the refunding BABs Wednesday. Investors do not appear to be penalizing the issuer in secondary trading as spreads have stayed at or near the original pricing.
March 26 -
The Washington refunding deal is built on an extraordinary optional redemption of Build America Bonds despite criticism from investors who hold them.
March 22