Bonds

The Puerto Rico Aqueduct and Sewer Authority plans to refund $1.8 billion of outstanding 2012 debt in an August deal, coming into a market that is starved for high-yield paper. For several months the authority and the Puerto Rico Oversight Board has mentioned the possibility of refunding the authority’s Series 2012A bonds. On Friday it
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Akron, Ohio-based FirstEnergy Corp. agreed to pay $230 million to resolve federal charges in connection with an alleged bribery scheme involving a $1 billion public bailout for two nuclear power plants owned by a bankrupt subsidiary with municipal debt. Federal authorities charged the public utility holding company with conspiring to commit honest services wire fraud.
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eMerge Americas, a venture-backed platform focused on changing Miami into the tech hub of the Americas, closed a round of investment led by Florida Funders, the firm announced on Tuesday. Florida Funders is a a venture capital fund and an angel investor network, and its investment in eMerge Americas is aimed at helping Miami’s tech
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The National League of Cities is calling on lawmakers to take swift action on infrastructure funding, even as the path forward remains extremely muddled ahead of a vote planned Wednesday. The brief NLC letter, dated July 19 and addressed to House and Senate leadership of both parties, references a previous more comprehensive policy document from
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President Joe Biden said he believes the surge in U.S. inflation is temporary and that he has told Federal Reserve Chairman Jerome Powell that he respects the central bank’s independence. Biden said Monday at the White House that recent price increases are “temporary,” countering Republican arguments that the president’s economic spending plans would cause inflation
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The Metropolitan Pier and Exposition Authority of Illinois trimmed its spread penalties in the first primary outing of an Illinois-linked borrower to reap the benefits of the state’s positive rating momentum. The agency that manages Chicago’s downtown convention center campus priced $811 million of refunding bonds Thursday. It saw a 98 basis point spread to
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Chicago is searching for a financial advisor to help assess development proposals as it looks to stake out a share of the casino gambling market with the promise of a roughly $200 million annual jackpot. The city launched a request for qualifications for an advisor July 14 to help evaluate proposals it receives from a
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Municipals ended the week steady along with U.S. Treasuries ahead of one of the more diverse and chunky calendars the summer has seen while supply still simply isn’t keeping up with demand, which should keep municipal yields in a tight range. The total potential volume for next week is estimated at $9.033 billion, up from total
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