Taxable muni issuance falls, but sector outperforms tax-exempts
Taxable municipal issuance has decreased 40.9% year-over-year, but returns so far in 2023 are outperforming tax-exempts and high-yield.
Stay updated with breaking news from Lee Deviney. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Taxable municipal issuance has decreased 40.9% year-over-year, but returns so far in 2023 are outperforming tax-exempts and high-yield.
The state House Appropriations Committee dropped $3.86 billion from a supplemental spending bill, but its chair said the money is "still in play."
The much-delayed $3.5 billion deal has an optional limited make-whole redemption if state lawmakers appropriate funds to defray costs for natural gas customers.
The taxable bonds, which finally received state approval, will be offered with maturities in 2033 and 2039.
The deal has until the end of Friday to clear the Texas Bond Review Board, whose members had no questions about the transaction when it was presented at a Thursday meeting.