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Teach-out plan for Florida Coastal approved; classes will end after summer term
The Florida Coastal School of Law. Photo from Wikimedia Commons. Following the U.S. Department of Education recently pulling federal financial aid at the Florida Coastal School of Law, a teach-out plan has been approved, with current students finishing courses at other ABA-approved law schools. The law school is the last of three for-profit schools owned by InfiLaw, an entity of the private equity firm Sterling Capital Partners. In April, the DOE terminated Florida Coastal’s access to federal financial aid. The department denied a reinstatement request in May, and in a news release, it stated that a private equity firm with 98.6% ownership in the school had relinquished its ownership. ....
Treasury raises Sh20.9 billion in oversubscribed May bond tap sale Friday May 14 2021 By ELIZABETH KIVUVA Summary The tap sale on this month’s Treasury bond issue was oversubscribed by 4.7 per cent with the government attaining its target, supported by higher market liquidity. Investors offered Sh20.93 billion, slightly above the targeted Sh20 billion, with the Central Bank of Kenya (CBK) taking up Sh20.69 billion. The Treasury rolled out the tap sale to cover the deficit on the two bonds issued earlier in the month, which raised Sh20.29 billion out of a targeted Sh30 billion. The tap sale on this month’s Treasury bond issue was oversubscribed by 4.7 per cent with the government attaining its target, supported by higher market liquidity. ....
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CHICAGO: U.S. Treasury yields rebounded after hitting two-month lows on Friday following data that showed a much smaller-than-expected jobs gain in April, with yields on longer-dated debt rising for the session as investors remained confident the economy was on the road to a strong recovery. The benchmark 10-year yield, which dropped to 1.469 per cent, the lowest since March 4, was last up 1.6 basis points on the day at 1.5771 per cent, holding below a 14-month high of 1.776 per cent reached on March 30. The 30-year yield tumbled to its lowest level since March 1 at 2.158 per cent. It was last 4.4 basis points higher at 2.28 per cent. ....
Treasury snaps up Sh81bn in oversubscribed April bond Summary The National Treasury exceeded its target from the April infrastructure bond (IFB) issue by Sh21.9 billion, pointing to increased appetite for domestic borrowing amid expanded expenditure and lower revenue performance. The government had targeted Sh60 billion from the bond, but after getting Sh88.6 billion bids from investors, took up Sh81.9 billion. The 18-year bond will pay investors an average of 12.67 per cent. Friday April 09 2021 By CHARLES MWANIKI Summary The National Treasury exceeded its target from the April infrastructure bond (IFB) issue by Sh21.9 billion, pointing to increased appetite for domestic borrowing amid expanded expenditure and lower revenue performance. ....