Detroit Sets Up Its Largest Sewer Sale: $700M With a Swap

Carvlin, Elizabeth
May 2003
Bond Buyer;5/7/2003, Vol. 344 Issue 31630, p32
Trade Publication
The article reports that Detroit will come to the bond market in the third week of May 2003 with the first portion of the largest-ever deal for its sewage disposal system, which will total about 700 million dollars of variable-and fixed-rate revenue bonds and will include a substitution. The sale will help fund the system's five-year, 1.9 billion dollar plan to upgrade and meet environmental standards. It will be sold through negotiation with UBS PaineWebber Inc. and Loop Capital Markets as co-senior managers. The city has included substitution in several of its deals, Tom Gavin said, including ones in 2001 and 1998.


Related Articles

  • Error by UBS Delays Completion of $800M N.Y.C. GO Deal. McKaig, Ryan // Bond Buyer;1/15/2003, Vol. 343 Issue 31553, p36 

    Reports that the completion of a purchase agreement on 800 million dollars in New York City tax-exempt general obligation bonds was delayed as of January 2003 because of problems with the work done by lead manager of the deal, UBS Paine Webber Inc. Details of the error committed by UBS in the...

  • Firms to Pay $30M Over Zero-Coupons. Kinnander, Ola // Bond Buyer;7/25/2002, Vol. 341 Issue 31435, p1 

    Reports the settlement of zero-coupon municipal bond deals by UBS Paine Webber Inc. in Washington. Reaction of the Internal Revenue Service on the municipal bond deals; Issues concerning on the existence of malpractice in insurance firms; Terms and value of the deals.

  • Municipals Rise 3/8 to � Point As Slew of New Issues Hits Market. Chesla, Nicholas // Bond Buyer;7/11/2002, Vol. 341 Issue 31425, p2 

    Reports the marketing performance of bond market in the U.S. Decline in import price index; Prices of bonds issued by Morgan Stanley & Co.; Acquisition of the revenue bonds of Clearwater by UBS Paine Webber.

  • SSB, UBS Confirmed To Handle W.Va. Deal. Floyd, Daniel F. // Bond Buyer;6/29/2001, Vol. 336 Issue 31171, p6 

    Reports that the Pension Review Board has confirmed that Salomon Smith Barney and UBS PaineWebber Inc. will be the senior lead underwriters for West Virginia's taxable bond sale. Pension panel created by Governor Bob Wise; Review of the proposed sale; Legal issues concerning the bond sale.

  • Connecticut's 1st GO Sale of Year Hits Market; Officials Optimistic. Peacock, Wayne // Bond Buyer;4/19/2002, Vol. 340 Issue 31369, p1 

    Reports the sale of general obligation bonds in response to budget deficits in Connecticut. Roles of P.G. Corbin & Co. and UBS Paine Webber Inc. in the project; Transactions of the government with the University of Connecticut, Waterbury and Connecticut State University for the sale; Success of...

  • PW and Pru Pay More for Fees. Chapelle, Tony // On Wall Street;Jan2002, Vol. 12 Issue 1, p17 

    Reports that UBS PaineWebber and Prudential Securities have lowered broker payouts across the board for transactional business. Reason for the move; Amount dropped by UBS in payouts on its grid; Details of the ticket charge introduced by UBS for every equity and options trade; Elimination of...

  • Colorado's St. Vrain School District Looks to Future With $96M GO Sale. Albanese, Elizabeth // Bond Buyer;4/8/2003, Vol. 344 Issue 31610, p6 

    Saint Vrain Valley School District in Denver, Colorado will sell on April 8, 2003, 96.2 million dollars of general obligation bonds, the first installment of debt to be sold from a 212 million dollar bond authorization approved by voters in November 2002. UBS PaineWebber Inc. and George K. Baum...

  • Lehman Lures Frank Mahoney to Join Public Finance Group. Walker, Susanne // Bond Buyer;6/5/2003, Vol. 344 Issue 31650, p8 

    Former UBS PaineWebber Inc. banker Frank Mahoney has joined Lehman Brothers Inc. a public finance group, as a managing director. He is based in its New York office and is a part of the Northeast team of the public finance unit, reporting to Sonia Toledo, who is also a managing director. Ron...

  • Smith Barney, UBS Paine Webber Likely to Handle W.Va. $4B Deal. Floyd, Daniel F. // Bond Buyer;6/27/2001, Vol. 336 Issue 31169, p40 

    Reports on West Virginia's expected confirmation of Salomon Smith Barney and UBS PaineWebber Inc. as managing underwriters for its proposed $4 billion pension bond deal. Pension funds which will be financed by the deal; Legal hurdles to the bond issue.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics