Coming This Summer: An Extra-Heavy Bond Redemption Season

Fine, Jacob
May 2003
Bond Buyer;5/30/2003, Vol. 344 Issue 31646, p1
Trade Publication
It's payback time for municipal bond investors as the market appears to be headed for an unusually heavy redemption season in the summer of 2003. Redemption advertising in 'The Bond Buyer' on May 30, 2003 was so large, the paper had to adjust the way it runs its daily issuance calendar due to production constraints. Because July 1 is a standard date for bonds to mature or be called, and many issuers may be required to give 30 days notice in accordance with bond indentures, the last business day in May tends to be a popular date for redemption advertising. A total of 262 redemption notices were published in May, fewer than in previous years.


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