Municipals Gain as Treasuries Rally; California Tobacco Hits Secondary
- Yields Fall 3 to 4 Basis Points; $2.6B Tobacco Offering Priced. Chesla, Nicholas; Johnson, Anastasija // Bond Buyer;9/25/2003, Vol. 345 Issue 31727, p2
Reports on the trading of tobacco settlement asset-backed bonds by the Golden State Tobacco Securitization in Corp. in California. Flexibility of the exchange rates; Escalation of treasury bonds; Enthusiasm of the traders for rate swap.
- States Seeking Extra Ingredient To Sweeten Tobacco Bond Blends. Fine, Jacob // Bond Buyer;2/7/2003, Vol. 343 Issue 31569, p1
Focuses on the sale of bonds by the Golden State Tobacco Securitization Corp. Percentage yield on the bonds that were higher than similarly rated bonds; Mutual funds that have been the dominant buyers of tobacco bonds; Multi-billion dollar tobacco bonds issued in 2002.
- California to Kick Off Big Tobacco Sale. Williams, Rochelle // Bond Buyer;9/19/2003, Vol. 345 Issue 31723, p1
Reports on the planned sale of enhanced tobacco settlement asset-backed bonds of Golden State Tobacco Securitization Corp. in California. Sale of Series 2003A tobacco bonds; Use of the bond proceeds for debt services; Securitization of the remaining payments owed by tobacco companies to the state.
- Far West. Cohen, Jackie; Saskal, Rich // Bond Buyer;2/17/2006, Vol. 355 Issue 32322, p28
The article reports on the performance of the municipal bonds issued in the Far West in 2005. Issuers of the region has sold about 81.1 billion dollar in debt. Refunding serves as the biggest deal wherein the top spot went to a 3.1 billion dollar offering from the Golden State Tobacco...
- Fitch Drops 98 of 250 Tobacco Ratings. DEVITT, CAITLIN // Bond Buyer;8/2/2011, Vol. 377 Issue 33558, p5
The article presents the investment-grade ratings of tobacco bonds in the U.S. by Fitch Ratings Ltd. as part of its annual sector review amid continued consumption declines by smokers and a dispute between the companies and states on diminishing annual payments. The rating agency states that it...
- Municipals Fade as Participants Wait For California Tobacco Deal Pricing. Johnson, Anastasija; Curran, Bill // Bond Buyer;7/28/2005, Vol. 353 Issue 32184, p2
Reports on the status of the municipal bond market in the United States. Refunding made by Golden State Tobacco Securitization Corp.; Estimated yield of convertible bonds with a 2010 conversion date; Auction of U.S. government two-year notes; Decision of UBS Financial Services Inc. to re-priced...
- All Eyes on Tobacco Deal. Hanson, Matthew; Posner, Matthew // Bond Buyer;3/6/2007, Vol. 359 Issue 32580, p1
The article reports on the retail order period for California's 4.5 billion dollar tobacco bond sale. Sources from around the municipal bond market are expecting to see additional yield tacked on when the debt is priced for institutional investors. The response of the bond market to the Golden...
- Calif. Eyes Pledge for Unenhanced '03 Tobacco Bond Refinancing. Saskal, Rich // Bond Buyer;5/16/2006, Vol. 356 Issue 32382, p3
The article reports on the options for possible refinancing of California's unenhanced tobacco bonds. The proposal to refinance the issuance of unenhanced Series 2003A Golden State Tobacco Securitization Corp. bonds was a footnote to the revised budget proposal Governor Arnold Schwarzenegger...
- Refundings Spur Far West Volume. Webster, Keeley; Glazier, Kyle // Bond Buyer;8/24/2015, Vol. 1 Issue 34365, p1
Far West issuers sold $48.3 billion of municipal bonds in the first half of 2015, a 70% increase from the first six months of 2014 that was driven by refundings.