On April 30th, the city of Chicago initiated a pivotal shift in its bond management by issuing a request for qualifications (RFQ) aimed at selecting new underwriting firms. This move comes in the wake of changing economic dynamics and the maturation of existing contracts, signaling to the finance industry that the city is committed to
Bonds
Shreveport, Louisiana, is currently navigating murky financial waters, marked by a troubling decline in its credit ranking. The city is preparing to issue $28.9 million in general obligation bonds, supported by bond insurance, as it grapples with underlying credit ratings classified as triple-B. With the preliminary official statement for these bonds already posted, anticipation looms
The recent decision by the North Carolina Local Government Commission to approve a staggering $865 million in bonds for the city of Charlotte and Duke University Health System reveals the depths of governmental financial reliance. While proponents tout this as a necessary financing move for a city and health system that aim to thrive, the
In a surprising turn of events, Barclays Plc has not only faced a significant turnover in its municipal finance team but has also opted to undergo a rapid hiring spree to fill the gaps left by dissatisfied staff. Following the distribution of mid-March bonuses, at least ten members of the municipal team decided to part
The news surrounding American Airlines’ recent decision to issue $350 million in junk-rated special facility revenue bonds raises eyebrows and deserves scrutiny. This financing endeavor, primarily aimed at developing a $400 million maintenance facility in Tulsa, Oklahoma, warrants a closer look, especially considering its implications for taxpayers, investors, and the airline’s own financial health. The
Tennessee’s recent decision to boost state bond issuance from a meager $88 million to a towering $1.01 billion for the upcoming fiscal year raises eyebrows and questions about fiscal responsibility. While Governor Bill Lee touts this move as a strategic investment in infrastructure, education, and energy, the sharp increase in debt reflects a growing reliance
Municipal bonds, commonly referred to as “munis,” have long been a staple in the portfolio of income-seeking investors. Yet, recent trends signal a significant shift in their allure—or rather, a marked decline. Several factors are contributing to this diminishing interest, causing even seasoned investors to reconsider their long-standing commitment to these once-reliable instruments. The Unrelenting
The recent approval of a staggering $1.03 billion health care bond by the Louisiana State Bond Commission marks a turning point for the state’s medical landscape. This bold move is the result of the Louisiana Public Facilities Authority stepping in on behalf of the Ochsner Clinic Foundation Project, illustrating a significant shift in how we
Pittsburgh, a city long defined by its coal and steel industries, is on the verge of marking a renaissance. At the heart of this transformation lies the Pittsburgh International Airport (PIT), which is set to unveil a new terminal. This ambitious project not only seeks to refresh the airport’s infrastructure but also aims to redefine
The municipal bond market has recently demonstrated signs of resilience following tumultuous fluctuations. On one hand, this recovery is a beacon of hope, signaling an end to the wild yield spikes that characterized the first weeks of April. However, beneath this veneer of stability lies a landscape that is fraught with complexities and uncertainties—a sentiment