In the world of municipal bonds, two seasoned professionals have decided to take a leap of faith and venture out on their own. Charlie Visconsi and Ron Van Den Handel, both veterans in the municipal bond industry, have recently left Preston Hollow Community Capital to establish their own firm – V2 Municipal Capital. This new
Bonds
The approval of an up to $1.8 billion State Water Implementation Revenue Fund for Texas (SWIRFT) bond issue by the Texas Water Development Board has raised concerns regarding the financing of local water projects in the state. With nearly $3 billion in requests to use the fund for various projects, including seawater desalination in Corpus
Tejon Ranch, the largest privately owned land in California, is seeking to expand its commercial center through a $61.6 million municipal bond issuance. This expansion project aims to more than double the size of the Tejon Ranch Commerce Center, which currently houses distribution centers for major retail brands like IKEA, Caterpillar, and L’Oreal. The Tejon
The Dormitory Authority of the State of New York recently conducted a successful bond sale, generating significant interest and demand from investors. According to DASNY spokesperson Jeffrey Gordon, the sale was met with positive reception due to the calm market conditions and robust demand for highly rated state bonds. As New York State’s leading capital
State government trifectas have been a topic of interest due to their potential impact on local government bond pricing. Recent research presented at the annual Brookings Municipal Finance conference sheds light on the relationship between single-party dominance in a state and the yields in the secondary municipal bond market. The study, conducted by professors Angela
The municipal bond market experienced little change on Wednesday, with key activities dominated by an upsized offering of $2.5 billion from the New York City Transitional Finance Authority and $1.3 billion from the Regents of the University of California. U.S. Treasuries showed slight firmness, and equities displayed mixed performance by the end of the day.
Phoenix is making a return to the municipal market with its first new money general obligation bond issue in over a decade. Chief Financial Officer Kathleen Gitkin expresses high expectations for the $238.8 million tax-exempt and taxable deal scheduled to price through a Piper Sandler-led underwriting team. The city has not issued new money GO
The North Carolina Local Government Commission recently declined to approve Cabarrus County’s bond requests totaling $228 million. This decision came as a surprise, especially considering that the panel’s staff had recommended approval. However, some members of the commission raised concerns about the county’s use of bond anticipation notes and questioned whether the bonds should undergo
Despite the operational interruptions caused by Hurricane Beryl, the Galveston Wharves is moving forward with its $160 million revenue bond sale, showcasing its strength and resilience. The port’s ability to rebound quickly after the storm, with only minor damage and power outages, is a testament to its robust infrastructure and preparedness. Prior to the bond
The Washington Metropolitan Area Transit Authority (WMATA) is preparing to issue $625.4 million of second lien dedicated revenue bonds in a negotiated sale on July 8th. Analysts are expecting a favorable response from the market, particularly from local buyers in D.C., Maryland, and Virginia. The bonds have been rated as AA by both S&P Global