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Headlines Tagged with Bonds 1,540 headlines found

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Tobacco refundings erode high-yield muni debt, squeeze investors

A series of big tobacco bond refundings is reshaping the U.S. municipal junk bond market, taking what has been a high-yielding staple and slowly turning it investment grade. Shelves full of cigarettes are pictured at a store in the Manhattan borough of
Reuters
added May 9, 2018 14:06
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[Florida] TOBACCO LEGISLATION APPEALS: BOND POSTED (PDF)

Ahrens Ina 2D16-1651 Pinellas 14-005826-CI 106477746 RJ Reynolds Tobacco Co. / Ahrens Ina 2D16-1652 Pinellas 14-005826-CI 106479145 Philip Morris USA Inc.
Supreme Court of Florida
added May 9, 2018 00:01
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BRIEF-‍Fitch Affirms New Jersey EDA's Cigarette Tax Revenue Bonds At 'BBB+'

Reuters
added Apr 2, 2018 22:38
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New Jersey to refund junk tobacco bonds for $3.2 billion of high-grade paper

New Jersey will sell $3.2 billion of tobacco refunding bonds on April 4 in a deal that effectively strips the debt of its junk rating and elevates it to investment grade. The deal, the largest of next week’s $8 billion of U.S. municipal bond and note sal
Reuters
added Mar 30, 2018 16:08
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Muni Debt That Beat Stocks Likely Won't Deliver Repeat Next Year

High-yield municipal bonds backed by legal-settlement payments from tobacco companies have returned 20.4 percent this year, more than the S&P 500 index. Don’t expect a repeat in 2018.
Bloomberg News
added Dec 18, 2017 16:02
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Pennsylvania governor signs revenue bills to wrap up stalled budget

will boost revenues in part by ... securitizing expected funding from tobacco companies for healthcare costs. That money comes from big tobacco companies that agreed in a 1998 settlement with U.S. states to help cover medical costs associated with smokin
Reuters
added Oct 31, 2017 02:01
12 Views

Dreyfus Bet on Tobacco Bonds Pays Off With Top Muni Fund Returns

Dreyfus Corp.’s $170 million high-yield municipal-bond fund is beating bigger and better-known competitors by riding a rebound in tobacco bonds while avoiding pitfalls such as Puerto Rico debt.
Bloomberg News
added Oct 4, 2017 01:19
2 Views

Pennsylvania could halt spending on Friday without budget

But tax-averse Republicans in the House balked and did not pass their own bill until Wednesday night. It proposes no new taxes but would raise about $1 billion by selling a portion of the funding stream from the 1998 tobacco settlement, in which tobacco
Reuters
added Sep 15, 2017 01:19
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[West Virginia] Letter: Tobacco Prevention Program zeroed out before settlement

In 1994, when I was hired by the West Virginia Tobacco Control Program... We would still be receiving that $70 million today, until 2023, if we had not sold out. Which brings me to another sad piece of news. West Virginia’s Tobacco Prevention Program, w
Charleston (WV) Sunday Gazette-Mail
added Sep 1, 2017 01:02
10 Views

VIDEO: Tobacco and Housing Bonds May Avoid Puerto Rico Pain: Mysak

discusses public pensions boosted from equity markets, and Puerto Rico: tobacco and housing bonds may avoid restructuring.
Bloomberg News
added Aug 11, 2017 18:10
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