Tobacco Takes Center Stage; $1.36B N.Y.C. Sale Leads the Pack

Albano, Christine
January 2006
Bond Buyer;1/30/2006, Vol. 355 Issue 32308, p7
Trade Publication
The article reports on the performance of the tobacco industry in the United States. The performance was affected by narrowing spreads and signs of credit strengthening. There is no negative news about tobacco bonds so the sector is viewed as stable. According to Bear, Stearns & Co. Inc., the price of the largest tobacco deal in New York City is $1.36 billion refunding for Tobacco Settlement Asset Securitization Corp. In California, two tobacco deals are scheduled to add to the tobacco volume in the new-issue market. Los Angeles County will also sell asset-backed tobacco bonds in a $300 million deal being priced by Citigroup Global Markets Inc.


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