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Headlines Tagged with Bonds 1,535 headlines found

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Q&A: The Hidden Costs of Tobacco Debt

capital appreciation bonds....are now likely to default. And that could force governments to pony up even more of their future tobacco windfall to investors — money that could otherwise benefit taxpayers. How did it all happen? Here are answers to some b
North Denver (CO) News
added Aug 19, 2014 07:32
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Market Close: Puerto Rico Sell-Off Sparks Tobacco Bond Sales

Puerto Rico debt concerns have spurred a sell-off tobacco bonds as hedge funds that invest in riskier assets seek liquidity, market participants said.
Bond Buyer Online
added Jul 9, 2014 19:22
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[Ohio] Lehman Says Buckeye Owes It $20M In Default Dispute ($$)

Lehman Brothers Holdings Inc. said the Buckeye Tobacco Settlement Financing Authority used shoddy methodology to make a $29 million claim against it and that the Ohio public-bond issuer actually owes the fallen financial giant $20 million instead, accordi
Law360
added Jul 7, 2016 17:48
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[New York] CRUDELE: How the government wasted tobacco’s $200B windfall

So, Albany is missing out on billions from smuggled cigarettes, losing out on tax from the smokes the Native Americans are selling, and shouldering the cost of bonds foolishly issued to back Master Settlement money it might never see. I called state Att
New York Post
added Oct 20, 2015 13:22
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[Rhode Island] RI Issues $620M In Tobacco Bonds After Oppenheimer Row ($$)

Rhode Island issued $620 million in tobacco bonds on Thursday, netting an immediate $36 million payment and following through on a much-anticipated issuance after successfully beating back OppenheimerFunds Inc.’s lawsuit seeking to block the issuance.
Law360
added Mar 20, 2015 13:13
16 Views

Q&A: The Hidden Costs of Tobacco Debt

Even when taxpayers aren’t explicitly on the hook, tobacco bonds can cost states and local governments money. Here’s how...some issued what are called capital appreciation bonds, or CABs. ... are now likely to default. And that could force governments to
ProPublica
added Aug 22, 2014 12:24
16 Views

[New York] Breakable bonds leave city a winner in smoking slowdown

But Newman, the former deputy comptroller, doesn’t see it that way. While emphasizing that a potential default was still a long way off, he said that the city needs to keep in mind what investors will think the next time it goes to the market with a bon
New York World (Columbia University Graduate School of Journalism)
added Feb 6, 2013 20:57
16 Views

Tobacco Bonds Rally With No Sign of 2042 Mortality: Muni Credit

More than $15 billion of municipal bonds backed by tobacco-company payments will default within 30 years, Moody’s Investors Service says. That’s not deterring investors from reaping the best returns in the tax-free market.
Bloomberg News
added Jul 20, 2012 16:34
15 Views

Tobacco Bond Risks Grow; Fitch Loses Confidence, Pulls Ratings

Fitch’s action hasn’t dented the strong performance of tobacco bond index, up 4% in the past month alone. Nonetheless, Eaton Vance’s Cynthia Clemson writes in a Wednesday blog post that Fitch’s decision highlights risks in the popular securities.
Barron's Blogs
added May 19, 2016 21:34
15 Views

Could Tobacco Money Help Ease Kansas's Woes?

This could make a lot of sense, because cigarette sales have been declining for years. 19 other states have already done enacted the plan.
High Plains Public Radio (HPPR)
added Apr 26, 2016 20:16
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