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Bonds Municipal Bonds

  • NEW YORK, April 19- An elected official of a New York City suburb faces trial on Wednesday in what authorities have called the first criminal securities fraud case involving municipal bonds. Christopher St. Lawrence, the elected supervisor of Ramapo, New York, has been charged with securities fraud, wire fraud and conspiracy. Lawrence in April 2016 along with...

  • NEW YORK, April 12- Bankruptcy for Puerto Rico is looking ever more likely as the clock ticks down toward a May 1 deadline to restructure $70 billion in debt, ramping up uncertainty for anyone betting on returns from the island's widely held U.S. municipal bonds. Congress last year passed the Puerto Rico rescue law dubbed PROMESA, it froze creditor lawsuits...

  • NEW YORK, April 12- Bankruptcy for Puerto Rico is looking ever more likely as the clock ticks down toward a May 1 deadline to restructure $70 billion in debt, ramping up uncertainty for anyone betting on returns from the island's widely held U.S. municipal bonds. Congress last year passed the Puerto Rico rescue law dubbed PROMESA, it froze creditor lawsuits...

  • *Secession clause in Aberdeen bond a first for debt markets. ABERDEEN, Scotland, April 7- A promise in a bond issued by Aberdeen city stipulating that investors can demand their money back early if the country leaves Britain is the starkest sign yet of investor nervousness over the prospect of Scottish secession. Aberdeen council told Reuters on Thursday it may...

  • April 3- The sale of debt by states, cities, schools and other issuers in the U.S. municipal bond market totaled $86.5 billion in 2017' s first quarter, a drop of 9.5 percent from the same period in 2016, according to Thomson Reuters data on Monday. Bank of America Merrill Lynch ranked second with $11 billion of debt in 118 deals, while J.P. Morgan Securities was third...

  • The four reactors are part of two projects known as V.C. Summer in South Carolina, which is majority-owned by SCANA Corp and Vogtle in Georgia, which is owned by a group of utilities led by Southern Co.. Tax-exempt bonds issued by the Municipal Electric Authority of Georgia, which owns 22.7 percent of the Vogtle units, and South Carolina Public Service Authority,...

  • NEW YORK, March 28- A congressional subcommittee on Tuesday urged Puerto Rico Governor Ricardo Rossello to finalize an $8.9 billion debt restructuring at the island's power utility, PREPA, before a deadline to close the deal expires on Friday. In a letter to Rossello, California Republican Doug LaMalfa, who chairs the U.S. House Subcommittee on Indian, Insular...

  • NEW YORK, March 20- Puerto Rico's benchmark government bond slumped to an all-time low on Monday after competing groups of bondholders stepped up their legal battle over who should be paid first out of a smaller-than-expected pool of cash. The debt, which has been in default since last year when the U.S. Congress passed a rescue law known as PROMESA that suspended...

  • NEW YORK, March 20- Puerto Rico's benchmark government debt slumped on Monday after competing groups of bondholders stepped up their legal battle over who should be paid first out of a smaller-than-expected pool of cash. The debt, which has been in default since last year when the U.S. Congress passed a rescue law known as PROMESA that suspended debt payments, has...

  • March 7- A former suburban New York development corporation director pleaded guilty to defrauding investors on Tuesday, marking what prosecutors said was believed to be the first-ever conviction for federal securities fraud in connection with municipal bonds. Aaron Troodler, 42, former executive director of the Ramapo Local Development Corp in Ramapo,...

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    Seniors looking to relocate to another state in retirement must be aware of these unexpected consequences, both financial and not.

  • The SEC's decision comes after the U.S. Court of Appeals for the District of Columbia ruled in January that the regulator overstepped its authority when it barred attorney and stock broker Gregory Bartko from working in various financial services sectors, including the transfer agent and municipal securities industries. The SEC has routinely taken civil...

  • SAN FRANCISCO, Feb 17- The state of Delaware will sell $225 million of general obligation bonds on Feb. 23, the largest offer in a trading week shortened by the Presidents Day holiday on Monday. The subdued level of supply is in line with the low-volume trend that began at the outset of the month, according to Alan Schankel, managing director and municipal strategist...

  • CHICAGO/ NEW YORK, Feb 3- U.S. Municipal bond sales next week from New York City, the state of Oregon and a California healthcare provider worth nearly $1.7 billion include warnings to potential buyers that Trump's policies could pose a financial risk to these issuers. New York City on Tuesday told potential investors for its upcoming $800 million bond sale that...

  • CHICAGO/ NEW YORK, Feb 3- U.S. Municipal bond sales next week from New York City, the state of Oregon and a California healthcare provider worth nearly $1.7 billion include warnings to potential buyers that Trump's policies could pose a financial risk to these issuers. New York City on Tuesday told potential investors for its upcoming $800 million bond sale that...

  • In a statement on Wednesday, the Fiscal Agency and Financial Advisory Authority said the island will miss the GO debt payment; payments owed at Puerto Rico's public finance and infrastructure agencies; and $279 million owed by its Government Development Bank. Puerto Rico has been defaulting on debt periodically for more than a year, including on GO debt, and the...

  • CHICAGO, Jan 19- Chicago's $888.7 million of tax-free general obligation bonds fetched hefty yields and coupons on Thursday, as the city paid a stiff market penalty for its fiscal woes. Yields in Chicago's deal were also much fatter than those of other muni bonds carrying the same low-investment grade ratings of BBB-minus from Fitch Ratings and BBB-plus from...

  • NEW YORK, Jan 10- The Port Authority of New York and New Jersey has agreed to pay $400,000 to settle allegations it failed to inform investors of risks to roadway projects, becoming the first municipal bond issuer to admit wrongdoing in an enforcement action with U.S. securities regulators. Reuters was first to report in April that the bi-state agency, which...

  • NEW YORK, Jan 10- The Port Authority of New York and New Jersey has agreed to pay $400,000 to settle allegations it failed to inform investors of risks to roadway projects, becoming the first municipal bond issuer to admit wrongdoing in an enforcement action with U.S. securities regulators. Reuters was first to report in April that the bi-state agency, which...

  • NEW YORK, Jan 4- U.S.-based bond funds netted cash for the first time since the U.S. election shook the fixed-income market, Investment Company Institute data released on Wednesday showed. Bond mutual funds and exchange-traded funds gathered $1.9 billion in the seven days through Dec. 28 as strong demand for taxable bonds offset a two-month municipal debt fund...