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Headlines Tagged with Bonds 1,540 headlines found

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ESTES: How the Big Tobacco Deal Went Bad

The only people making money on these bonds are investment bankers who fooled state politicians into believing that ready money in their state coffers now was more important than any future consequences...all together, the states will spend just 1.9 perce
New York Times
added Oct 7, 2014 16:16
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Tobacco Bonds Seen Cheap as Default Forecast Raised: Muni Credit

Managers of two of the largest high-yield municipal funds see a buying opportunity in tobacco securities even as more of the bonds are projected to default. The obligations, issued by state and city agencies and backed by funds from tobacco companies, a
Bloomberg News
added Sep 27, 2014 14:46
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Tobacco Bonds May Be Dangerous to Your State's Financial Health

Some of the deals included a form of high-risk debt, capital appreciation bonds, which obligated governments to pay out billions of their tobacco income in the future.
ProPublica
added Aug 8, 2014 11:50
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Strategists Concerned Muni Investors Can t Manage Tobacco Bonds Risk

Rieger said that investors are mainly interested in tobacco bonds because they offer high-yields in a market where lack of supply has driven down municipal bond yields. Muni supply for 2014 totaled $89.34 billion as of April 30, compared to $122.7 billio
Bond Buyer Online
added May 9, 2014 15:51
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[California] If Prop. 29 passes, money for bonds could suffer

If Proposition 29, which would increase the state tax on cigarettes by $1 a pack, manages to eke out a come-from-behind win in late ballot counting, it could pose another blow to bonds backed by revenues states are receiving from tobacco companies.
San Francisco (CA) Chronicle
added Jun 21, 2012 16:58
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[New Jersey] Fitch Withdraws the Ratings for the N.J. Economic Dev Auth (NJ) Cigarette Tax Rev Bond Series 2004

Business Wire
added May 10, 2012 02:43
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Pennsylvania lawmakers pass spending plan but no revenue package

In order to close the gap, the state is considering borrowing $1 billion, to be repaid with money U.S. states still receive every year from their 1998 legal settlement with tobacco companies for health expenses.
Reuters
added Jul 1, 2017 17:45
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[Kansas] Tobacco Bond Plan Raises Questions Among Children’s Advocates

Gov. Sam Brownback’s proposal to securitize the state’s share of a settlement with major tobacco companies. Selling bonds backed by the tobacco money would mean that some or all of it would go to investors in exchange for a large upfront payment. Kansas
KMUW 89.1 Wichita (KS) Public Radio
added Feb 11, 2017 00:44
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Higher California Smoking Age Latest Blow to Tobacco Bonds

California's new, higher legal smoking age heralds more trouble for tobacco securitization debt, said an analyst who has followed the sector for years. The legal tobacco purchase age in California rose to 21 years old on June 9. "As an analyst covering
Bond Buyer Online
added Jun 17, 2016 02:18
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When states win lawsuits, where does money go?

some of those bonds are now coming back to bite them. An analysis of more than 100 such deals by ProPublica, the nonprofit investigative journalism enterprise, last year found that some bonds are in trouble because annual settlement payments to the state
USA Today
added Feb 20, 2015 04:19
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