Category Archives: Muni Bonds

A Muni Offering

In the news …

Security Description: VISALIA CA UNIF SCH DIST COPS UNDERLYING S&P A+

Rating: AA(S&P)
Insurance Desc: AGM
Interest Rate: 4.00%

Maturity: 5/1/2040
Call Features: 5/1/2021 @ 100
Yield to Call: 3.285%
Yield to Maturity: 3.864%

Price: 102

Munis Bonds

FMSBonds says:

“As uncertainty continues to surround the ever-changing tax overhaul plan, municipal bond issuers aren’t taking any chances: They’re conducting a gusher of bond sales at a pace not seen in more than 30 years.

Issuance this week is expected to total almost $12 billion, according to Thomson Reuters, following two weeks that each saw $20 billion in sales.

At the current rate, state and local governments are on track to easily exceed the monthly record of $54.7 billion in bond sales reached in 1985.”

Muni bonds and recent storms

“Early signs indicate bond insurers can withstand the recent hurricanes Harvey and Irma with no change in credit ratings, while Maria’s impact may be moot.

Although insurers are still tallying the costs, S&P Global Ratings said Assured Guaranty, Build America Mutual and National Public Finance Guarantee aren’t at risk for a ratings downgrade as a result of Harvey and Irma.” — FMS Bonds

Muni bonds

An offering in the news …

CALIFORNIA ST MUN FIN AUTH REVENUE OID

REF-CMNTY MED CENTERS-SER A

Rating: Baa1(Moody’s)/A-(S&P)

Interest Rate: 4.00%

Maturity: 2/1/2042

Call Features: 2/1/2027 @ 100

Yield to Call: 4.00%

Yield to Maturity: 4.00%

Muni bond exemption

Trump on Muni bond exemption.

“He’s the president-elect, and he said he would keep it,” said Tom Cochran, CEO and executive director of the U.S. Conference of Mayors, following a half-hour meeting with Donald Trump in New York.

Puerto Rico debt

In the news …

The Supreme Court has struck down a Puerto Rican law that would have allowed the U.S. territory’s public utilities to restructure their debt. The 5-2 ruling leaves management of the island’s fiscal crisis to Congress.

Muni bonds

A sample offering …

RIVERSIDE CNTY CA PUBLIC FIN AUTH OID REF-PROJ AREA #1-DESERT CMNTYS & INTERSTATE 215 CORRIDO TAX ALLOCATION UNDERLYING S&P A

Rating: Aa(S&P)

Insurance: Build America Mutual Interest Rate: 3.00%

Maturity: 10/1/2035
Call Features: 10/1/2025 @ 100
Yield to Call: 3.00%
Yield to Maturity: 3.00%

Price: 100
Form: Book-Entry
Comments: Federally Tax Free
Not Subject to AMT