The Purdue University Trustees priced $72.43 million of student fee bonds Tuesday, joining other issuers in refunding some of the university’s outstanding Build America Bonds. Lead managers Jefferies and Ramirez & Co. priced the deal Wednesday, with Wells Fargo Securities serving as co-manager. The municipal advisor is Blue Rose Capital Advisors. Bond counsel is Ice
Municipals were mixed Wednesday, but selling pressure was evident on the short end, as few deals of size priced in the primary market and balances from Tuesday’s large new-issues were digested. Munis underperformed a stronger U.S. Treasury market while equities ended up. Despite weakness Wednesday and Tuesday, munis have “held in pretty well,” with yields
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Thames Water said its shareholders will no longer provide £500mn of fresh equity by the end of the month over fears that conditions imposed by the industry regulator make the company’s business plan “uninvestible”. The
Investors and credit rating agencies are weighing how much effect the collapse of the Francis Scott Key bridge in Baltimore’s inner harbor will have on the local economy and logistics on the East Coast, though early indications suggest no drastic credit impact. Early Tuesday morning the Singapore-flagged container vessel Dali lost power and crashed into a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares in Donald Trump’s social media business rose 26 per cent ahead of its New York market debut on Tuesday, valuing the former US president’s stake at about $5bn as he faces massive legal bills.
An example of Pacaso’s new lower-priced vacation home listings. CNBC Luxury vacation home co-ownership platform Pacaso is attempting to appeal to the masses, as it grows its business during a pricey and competitive phase of the housing market. The company, which launched in 2020 with multimillion-dollar homes listed for co-ownership, is now introducing thousands more