Volusia County, Fla., approves plan, keeps its options open in dual bid
- Option-based risk management of a bond portfolio under regime switching interest rates. Antonelli, Fabio; Ramponi, Alessandro; Scarlatti, Sergio // Decisions in Economics & Finance;May2013, Vol. 36 Issue 1, p47
In the present paper, we assume an economy with regime switching short rates and show how the Value at Risk of a financial position on zero-coupon bonds, hedged by buying protective put options under budget constraints, can be minimized by selecting optimal (regime-dependent) strike prices.
- Firms get piece of Denver swap in return for 'pain and agony'. Preston, Darrell; McDonald, Michael // Bond Buyer;08/09/99, Vol. 329 Issue 30700, p1
Reports on Denver, Colorado's interest rate swap on $200 million of outstanding bonds dating back to 1991. Financing of the city's international airport; Competitive bid held by Denver, Colorado.
- Massachusetts joins select company by engaging in hefty interest rate swap. Reynolds, Katherine M. // Bond Buyer;07/28/97, Vol. 321 Issue 30196, p1
Reports on Massachusetts' interest rate swap transaction on general obligation bonds. Sale of additional variable-rate refunding bonds; Swap back to a fixed-rate obligation; Estimated present value savings generated by the swap for the state.
- North Carolina municipal utility takes on tax risk in swap. McDonald, Michael // Bond Buyer;04/12/99, Vol. 328 Issue 30617, p25
Features the interest rate swap executed by the North Carolina Municipal Power Agency Number One on nearly $90 million worth of revenue bonds. Tax risk in the deal; Aim to gain higher savings; Aspects of the hedge swap negotiated with Goldman Sachs & Co.; Concern that the state Legislature will...
- Use of interest rate swaps to cut financing costs on the rise among issuers. Goldsmith, Steve // Bond Buyer;05/22/98, Vol. 324 Issue 30399, p37
Focuses on the growing popularity among bond issuers of turning to interest-rate swaps as a tool to cut debt service costs. Total swap volume in the United States for the first quarter of 1998; Comment by Michael W. Kelly, managing director with Ambac Assurance Corp.; Benefits of such swaps.
- Low rates, flat yield, spark move to forward delivery on bonds and swaps. McEntee, Christopher // Bond Buyer;06/22/98, Vol. 324 Issue 30419, p1
Discusses the dispute among issuers and financial advisers on time-delayed financing techniques they can use to lock in savings on bonds that are no longer eligible for advance refundings. Forward-starting interest rate swaps entered into by issuers; Key West Utility Board's forward-delivery...
- Detroit Hopes to Keep Its $500 Million Water Deal Pure. Devitt, Caitlin // Bond Buyer;12/14/2011, Vol. 378 Issue 33632, p1
The article focuses on the 500 million dollar senior-lien water and sewer bonds marketed by Detroit in Michigan. The deal hopes to relieve the fiscal problems of the city over the uncertainties of water and sewer service funding due to the bankruptcy in Jefferson County, Alabama. The proceeds of...
- Guidelines on local authority dealings. // Accountancy;Nov89, Vol. 104 Issue 1155, p42
This article reports on guidelines issued by the Institute of Chartered Accountants in England and Wales for bank auditors and other counterparties involved as of November 1989. Doubt about the legality of certain transaction entered into by local authorities, has caused uncertainty in the...
- Michigan State Offering $229M to Refund, Pay Swap Fees. Devitt, Caitlin // Bond Buyer;5/4/2010, Vol. 372 Issue 33310, p6
The article reports on the move of the Michigan State University to offer 229 million dollars of general revenue bonds to refund its outstanding variable-rate debt, commercial paper and pay termination fees of the interest rate swaps.