Dallas Fort Worth International Airport is set to enter the municipal bond market with a $750 million deal, supported by a recent rating upgrade and a positive outlook revision. S&P Global Ratings recently raised the airport’s rating to AA-minus from A-plus, highlighting factors such as strong enplanements, financial resiliency, and stable debt service coverage. This
Bonds
The municipal bonds market experienced weakness on Thursday, accompanied by a rise in U.S. Treasury yields and a rally in equities. This scenario has led to increased volatility in both markets, bringing about fluctuations in triple-A yields by two to seven basis points and USTs by four to five points. Jennifer Johnston, the director of
The Omaha City Council recently approved the placement of a $333.4 million general obligation bond referendum on the upcoming general election ballot. The funds from this bond will be allocated to various critical areas such as sewer construction and improvements, streets and parking, public safety and convention center facilities, parks and recreation, highways and bridges,
Long Island Power Authority (LIPA) is gearing up to price a significant billion-dollar bond issuance with its fresh leadership team, expiring third-party manager contract, and an upgraded credit rating from Fitch. This bond issuance includes various components aimed at funding capital improvements, retiring existing bonds, and ensuring financial stability for the electric system. Bond Offering
The month of July witnessed a notable surge in municipal issuance, which reached $33.935 billion across 576 issues. This represents a substantial increase of 21.2% compared to the previous year’s figures. The continuous rise in issuance volumes over the past seven months has been attributed to various factors, including pre-election front-loading, a conducive rate environment,
The municipal market appeared to be stagnant on Tuesday, with U.S. Treasuries showing firmness and equities exhibiting a mix of performance towards the end of the trading session. Despite this, muni yields remained consistent with levels observed at the beginning of the summer last year. Experts like Tom Kozlik of HilltopSecurities predict that yields could
The U.S. Soccer Federation is embarking on a significant project to build a new headquarters and training facility in Georgia, with a total cost of $225 million. The organization is seeking to fund this project through the issuance of $200 million in tax-exempt revenue bonds, with Arthur M. Blank committing $50 million to the endeavor.
New York City is set to offer $1.2 billion of refunding general obligation bonds, in what will be its first deal of the fiscal year. This comes just weeks after the New York City Transitional Finance Authority completed a $2.11 billion sale. The test of the market’s appetite for Big Apple debt should be met
A new chapter has unfolded in the municipal bond market as two seasoned experts have departed from Preston Hollow Community Capital to establish their own venture, V2 Municipal Capital. This independent firm, led by Charlie Visconsi and Ron Van Den Handel, is set to collaborate with New York-based alternative asset manager Fundamental Advisors. The primary
The Texas Water Development Board recently approved an up to $1.8 billion State Water Implementation Revenue Fund for Texas (SWIRFT) bond issue. This funding will be used to finance local water projects across the state, including seawater desalination in Corpus Christi and a reservoir and pump station expansion in Brazoria County. These projects are crucial