UBS dropped from $3.4 billion Texas natural gas securitization pricing
UBS Group was the only bank that underwrites munis included in the state's list of financial companies determined to be boycotting energy businesses.
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.
UBS Group was the only bank that underwrites munis included in the state's list of financial companies determined to be boycotting energy businesses.
UBS' placement on the Texas comptroller's list of fossil fuel industry "boycotters" could jeopardize its role in a natural gas utility securitization bond sale.
The Texas Natural Gas Securitization Finance Corporation picked a team of underwriters to sell debt for utilities hit hard during 2021’s Winter Storm Uri.
A taxable bond issue will raise $3.4 billion for extraordinary costs incurred by natural gas utilities during deadly Winter Storm Uri that hit Texas in 2021.
(Bloomberg) -- Texas is seeking underwriters for a $3.4 billion bond deal to bail out natural gas utilities stung by huge financial losses after the deadly February 2021 winter storm.