In a strategic maneuver aimed at bolstering its financial health, Grand Canyon University (GCU) is preparing to head into the municipal bond market this week. The Phoenix-based institution will attempt to secure $520 million through the issuance of taxable revenue bonds. This decision comes against the backdrop of regulatory challenges and seeks to resolve prior
Bonds
In an impressive display of municipal governance, Santa Barbara, a charming coastal city in Southern California known for its affluent populace and impressive real estate, is making waves in the municipal bond market. The city aims to secure $124.2 million to establish a new police headquarters while simultaneously rejuvenating a crucial oceanfront park. This initiative
The financial landscape has been experiencing a distinctive shift as investors simultaneously grapple with uncertainty from looming elections and changes to Federal Reserve interest rates. The implications of these variables have led to a surge in money market funds, both taxable and tax-exempt, reaching unprecedented levels not seen since the start of 2024. This shift
The municipal bond market is currently navigating a landscape marked by mixed performance and significant volatility. As we approach the year-end, analysts are closely observing the interplay between municipal yields, U.S. Treasury movements, and broader market conditions. Although municipal bonds recorded slight variances, the sentiments surrounding their performance appear cautiously optimistic, supported by prevailing economic
As Hawaii prepares to enter the bond market in early December, the anticipation surrounding its taxable general obligation bonds is palpable. The state is set to raise $750 million, with its double-A category ratings reaffirmed. This move comes at a crucial time, as Hawaii faces challenges stemming from the slow recovery of its essential tourism
The saga of Brightline’s passenger train financing is a lesson in perseverance, vision, and innovative financial structuring. Since venturing into the municipal bond market in 2017, Brightline has gradually unfolded its story, culminating in the largest private-activity bond issuance in American intercity rail history—worth a staggering $3.2 billion. This intricate financing not only showcases Brightline’s
The municipal bond market has showcased a nuanced dynamic in the wake of recent election-induced fluctuations in the financial landscape. While municipal bonds exhibited resilience, there were notable divergences from their U.S. Treasury counterparts. This article delves into the recent developments within the municipal bond market, the implications of relative performance against USTs (U.S. Treasuries),
At a recent conference held by The Bond Buyer focused on California’s public finance sector, Dave Sanchez, the director of the Securities and Exchange Commission’s (SEC) Office of Municipal Securities, underscored the need for attention to new-issue pricing in the municipal securities market. During this forum, he elaborated on how the SEC’s exam priorities for
The financial markets are in constant flux, driven by various factors including economic indicators, business earnings, and notably, political events. Recently, the results of a significant election in the United States – one that saw a sweeping victory for former President Donald Trump and changes to the Republican stronghold in the Senate – have profoundly
As we approach pivotal events like elections and Federal Open Market Committee (FOMC) meetings, the financial markets are brimming with uncertainty. Investors are remaining cautious and waiting for clearer signals before making significant moves. This moment is critical as it can shape both short-term market reactions and long-term economic policies. Importantly, the outcome of the