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Headlines Tagged with Bonds 1,536 headlines found

10 Views

How Tobacco Bonds Work, and What Can Go Wrong

States and localities got cash up front but may end up paying back a lot more than they expected.
ProPublica
added Oct 30, 2014 20:30
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
15 Views

Official Statement: New Jersey Treasury Department!

The State takes very seriously its relationship with bondholders ...Although not legally compelled to resolve a potential default situation with the tobacco bonds, the State sees an advantage in maintaining good relations with the tobacco bond investors
ProPublica
added Aug 8, 2014 11:49
2 Views

Tobacco Debt: How Cash From Big Tobacco Went From Boon to Burden

ProPublica
added Oct 30, 2014 20:23
10 Views

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
4 Views

PODKUL: How Wall Street Tobacco Deals Left States With Billions in Toxic Debt

Politicians wanted upfront cash from a legal victory over Big Tobacco, and bankers happily obliged. The price? A handful of states promised to repay $64 billion on just $3 billion advanced.
ProPublica
added Aug 8, 2014 11:42
11 Views

Wall Street tobacco deals left states in billions of debt

A ProPublica analysis of more than 100 tobacco deals since the settlement found that they are creating new fiscal headaches for states, driving some into bailouts ... high-risk debt that squeezed out a few extra dollars for the governments but promised m
Marketplace (American Public Media)
added Aug 7, 2014 11:27
20 Views

Oppenheimer Sues Rhode Island Over $594 Million Bond Deal

Rhode Island’s plan to sell $594 million in debt backed by tobacco-company payments was challenged by OppenheimerFunds Inc., which claims the deal violates earlier bondholder rights to revenue related to a 16-year-old accord over health-care related cost
Bloomberg News
added Aug 6, 2014 07:15
12 Views

[Rhode Island] Up in Smoke: RI Tobacco Is Day-to-Day

Rhode Island's Tobacco deal has been put on day to day status by Citigroup following a lawsuit from two Oppenheimer Rochester funds.
Bond Buyer Online
added Aug 6, 2014 01:03
4 Views

OppenheimerFunds Says It Sued Rhode Island Over Tobacco Deal

Rhode Island’s plan to sell $594 million in debt backed by tobacco-company payments was challenged by OppenheimerFunds Inc., which claims the deal violates earlier bondholder rights to revenue related to a 16-year-old accord over health-care related cost
Business Week/Bloomberg
added Aug 6, 2014 00:36
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