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Headlines Tagged with Bonds 1,540 headlines found

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[New Jersey] Bottom Lines: N.J. bungle on tobacco settlement still costing taxpayers

A ProPublica analysis of what states did with billions of dollars from tobacco companies — ostensibly to offset the health-care costs of smoking — provides a helpful reminder of how things have gone so wrong in New Jersey. The 1998 tobacco settlement was
The Press of Atlantic City
added Sep 17, 2014 05:24
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Investors Haul In Nearly Half the Tobacco Settlement Cash

An updated tally by ProPublica shows that tobacco bondholders are due $2.6 billion of the $6 billion in this year’s payouts to state and local governments from Big Tobacco.
ProPublica
added Oct 30, 2014 20:28
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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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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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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
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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
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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
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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
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