TITLE

Minnesota Budget Passage Clears Deck for $400M Refunding

AUTHOR(S)
Shields, Yvette
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/2/2003, Vol. 344 Issue 31647, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that fresh from the passage of a $47 billion two-year budget that includes $750 million of new borrowing, Minnesota can now move forward with plans to competitively sell on June 17, 2003, nearly $400 million of general obligation bonds to refund now-callable 1993 debt. Before announcing the bond deal, finance officials were awaiting passage of the budget to update the state's financial information in time to meet investor notification deadlines. The outstanding bonds currently pay interest rates in the low to mid-5% range.
ACCESSION #
9986321

 

Related Articles

  • Return of the GOs: Alaska Takes Rare, $462 Million Trip. Finestone, Deborah // Bond Buyer;4/4/2003, Vol. 344 Issue 31608, p30 

    Alaska is bringing GO bonds to market, in a 462 million dollars deal set to price on April 9, 2003.Series A consists of 359.13 million dollars in general purpose bonds to finance education facilities, museums, and transportation projects spread around the state. Series B is made up of 102.8...

  • 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.

  • N.J. Turnpike Agency to Restructure Debt, OKs Swap for Up to $900M. Braun, Martin Z. // Bond Buyer;5/7/2003, Vol. 344 Issue 31630, p1 

    According to a financial analysis, the New Jersey Turnpike Authority must restructure its debt, delaying debt service costs in order to avoid the need for toll hikes to generate cash to replenish drawn down reserves. As part of its 1.8 billion dollar plan to restructure debt and raise funds to...

  • $450M Detroit Hockey Arena Bonds Clear Final Hurdle. Devitt, Caitlin // Bondbuyer.com;9/17/2014, p30 

    The article reports that the issuance of 450 million dollars of 30-year bonds on behalf of the Downtown Development Authority to finance the construction of hockey stadium in Detroit, Michigan has been approved by the Michigan Strategic Fund. The bonds feature a mix of tax-exempt and taxable...

  • Low Rates, Investor Appetite Boost Mortgage Bonds. Sinnock, Bonnie // National Mortgage News;3/11/2002, Vol. 26 Issue 24, p2 

    Reports on the increase of mortgage bonds in the U.S. Effect of low interest rates on mortgage industry; Rate of mortgage-related securities growth; Statistics on long-term and short-term agency debt.

  • Europe: Euro electrifies Asian borrowers. Chien Mi Wong // FinanceAsia;Dec2014, p13 

    The article discusses the increasing appeal of euro-denominated debt in Asia spurred by the low interest rates environment of Europe. Topics covered include the record-breaking amount of euro-denominated bonds raised by Asia ex-Japan borrowers, how a weakening euro strengthens the case for...

  • CEE: Local Markets Remain The Focus.  // Emerging Markets Monitor;1/8/2007, Vol. 12 Issue 37, p17 

    The article offers an outlook on the debt markets across European Union countries for 2007. The trading performance of Polish and Romanian bonds is described. The article sees the potential for a significant move in the sovereign debts of Serbia. A forecast for the Interest Rate Swap market is...

  • Two Rhode Island Colleges Looking Forward to $112M of Debt. D'Ambrosio, Gillian // Bond Buyer;6/4/2003, Vol. 344 Issue 31649, p40 

    As universities continue to take advantage of low interest rates and to issue debt to fund capital projects, two Rhode Island colleges are each preparing to bring a total of about 112 million dollars in new money and refunding deals to market through the Rhode Island Health & Educational...

  • Bonds Hold On. Pollack, Ilana // On Wall Street;Dec2004, Vol. 14 Issue 12, p53 

    Discusses the condition of the performance of the bond market in the U.S., as of December 2004. Relation of the growth of interest rates to bond prices; Factors that influenced the condition of the bond market, including corporate borrowing; Strategy used to shield bond portfolio against rising...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics