TOBs Taking Flight?

Johnson, Matthew
March 2006
Bond Buyer;3/10/2006, Vol. 355 Issue 32336, p1
Trade Publication
The article reports that some tender option bond (TOB) programs have been unwinding since the start of 2006 due to the changing market conditions. The trend, according to the author, is putting more long-dated municipal bonds back into the market. TOB programs are typically set up as trusts allowing users to pay a low interest rate to borrow funds by selling short-term notes.


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