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The Burning Truth About Tobacco Bonds

We believe professional management, knowledge, and experience in this sector of the municipal bond market are of paramount importance. VanEck offers these through its ETFs, thereby providing investors with an attractive way to access this dynamic part of
Seeking Alpha blog network
added May 25, 2017 21:56
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[Rhode Island] Oppenheimer's Tobacco Bond Dispute Heard in RI Court

Oppenheimer squared off against the Rhode Island Tobacco Settlement Financing Corp. at a state court hearing Monday as the fund company sought to block a $593 million tobacco bond refunding sale originally slated for early August.
Bond Buyer Online
added Sep 8, 2014 16:45
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Tobacco Bonds Face Default Risk as Smoking Drops, Moody's Says

The declining number of U.S. smokers is proving hazardous to the health of municipal bonds backed by payments from cigarette companies under a 1998 settlement with 46 U.S. states, Moody’s Investors Service said.
San Francisco Chronicle
added Jul 13, 2012 06:34
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New Jersey Gets $92 Million After Restructuring Tobacco Bonds

New Jersey reached a deal to obtain almost $92 million for its general fund by pledging the remainder of its revenue from the national tobacco settlement to investors. The bolstered payment pledge made trading prices on bonds linked to the agreement more
Bloomberg News
added Apr 3, 2014 07:48
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Washington Tobacco Settlement Authority to sell $344.4 mln bonds

Tobacco Settlement Authority is expected to sell $344.39 million of tobacco settlement revenue refunding bonds, series 2013 on Oct. 3, said a market source on Friday. The authority is an agency of State of Washington.
Reuters
added Sep 20, 2013 11:50
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Rhode Island weighs options over tobacco funding

The Chafee administration is weighing whether to refinance the bonds initially sold in 2002 to investors willing to pay $685 million up front in exchange for the rights to $1.2 billion in anticipated settlement payments over two decades from the big tobac
Providence (RI) Journal-Bulletin
added Aug 27, 2013 10:36
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California Tobacco Bond Sale a Hit With Investors

California on Tuesday had little trouble selling $380 million in municipal bonds backed by revenue from tobacco companies, even as litigation deepens over a payment dispute related to the companies' lost market share.
The Wall Street Journal Interactive Edition
added Apr 2, 2013 19:40
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Reynolds American's merger and a massive fine could snare tobacco muni bonds

A stream of news out of the tobacco industry has failed to derail prices on municipal bonds backed by cigarette makers. But muni bond analysts warn that investors could get caught in the middle as the big players in the tobacco industry shift.
MarketWatch (Wall St. Journal)
added Jul 22, 2014 13:12
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[North Carolina] Tobacco bonds may face accelerated defaults

But as tobacco shipments decline, so does the amount of MSA payments. Makers of e-cigs and vapor cigarettes are not subject currently to the MSA, so as smokers switch to those products, cigarette shipments and payments decline further. That trend led Moo
Winston-Salem (NC) Journal
added Jun 30, 2014 08:27
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[North Carolina] Letter: Tobacco

The settlement dollars went up in smoke years ago and smokers will put their dollars up in smoke to pay for the whole mess for years to come. The silliness of this whole scenario is obvious.
New Bern (NC) Sun-Journal
added Jun 28, 2013 14:16
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