Bond Financing

News & Analysis as of

What to Make of a Diminished Thing: Tobacco Bond Defaults and Restructurings

There is little poetry in tobacco bonds these days. Cigarette consumption has declined beyond projections, and the advent of e-cigarettes may exacerbate the decline. Payments under the Master Settlement Agreement (MSA) are...more

SEC Turns Up the Heat on Issuer Officials

Two recent SEC enforcement actions demonstrate that the Securities and Exchange Commission remains intently focused on the municipal market and, in particular, on officials participating in financings that fail to accurately...more

New IRS guidance for certain entities benefitting from tax-exempt bond financings

The IRS has released guidance in three areas of interest to entities that benefit from tax-exempt bond financings, particularly hospitals and educational institutions....more

Obama’s Proposed 2016 Budget Seeks To Address Infrastructure Needs

The Obama administration's proposed 2016 budget, released on February 2, 2015, reflects the administration's commitment to finding ways to finance the country’s growing infrastructure requirements. The 2016 budget includes...more

"Risk Retention Rules Impact Registered Fund Tender Option Bond Financings"

In October 2014, several regulatory agencies approved final rules to implement the risk retention requirement mandated by Section 941 of the Dodd-Frank Act. (See "Regulators Adopt Final Risk Retention Rules for Asset-Backed...more

Recent Favorable IRS Guidance for Tax-Exempt Bond Financed Facilities

The IRS has released guidance in three areas of interest to entities that benefit from tax-exempt bond financings, particularly hospitals and educational institutions. This guidance creates new rules related to management...more

Is Green Sukuk a Viable Option for Clean Energy Initiatives in the GCC?

A number of GCC governments, including those in the UAE and Saudi Arabia, have set ambitious clean energy and energy efficiency targets. As the fastest growing region in the world, the GCC’s population is expected to grow...more

Orange County Toll Agency Successfully Refinances Over $1 Billion of Toll Revenue Debt

The San Joaquin Hills Transportation Corridor Agency today successfully refinanced $1.4 billion of its $2.2 billion in outstanding debt issued to fund construction of the 73 Toll Road. “This is great news for drivers and the...more

Water Bond Would Authorize $7.5 Billion for California Water Supply Infrastructure Projects

When California voters cast their votes on November 4, 2014 they will decide the fate of a $7.5 billion water bond proposal – Proposition 1 – which would authorize $7.12 billion in new general obligation bonds and reallocate...more

"Enhanced Infrastructure Financing Districts": New California Infrastructure Financing Law Passes Legislature

Enhanced Infrastructure Financing Districts will soon become a reality for many cities and counties looking for a mechanism to perform some functions previously done by redevelopment agencies. Senate Bill 628 (SB 628) passed...more

Legislature Approves Enhanced Infrastructure Financing Districts; Awaiting Governor Signature

Gov. Jerry Brown’s vision for “Enhanced Infrastructure Financing Districts” was approved by the Legislature and is awaiting Brown’s signature. SB 628 (Beall, D-Campbell), a gut-and-amend bill passed in the last week of the...more

Investing in Georgia: Economic Development Newsletter - August 2014

Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - A report on the volume of private activity bond issuances in the United States generally and in...more

Are we seeing the return of Single-Family Tax-Exempt Bond Financing?

Prior to 2009, housing finance agencies (HFAs) financed nearly all of their single-family mortgage loans with tax-exempt bond financings. Over the past five years as rates on conventional mortgage loans fell and remained at...more

Housing options for veterans

With Independence Day right around the corner and with several bond financings benefitting homeless veterans recently in the news (see Proposition 41 Bond Measure and Apartments for Homeless Veterans), it seemed fitting to...more

Tax-Exempt Bond Financing for Manufactured Home Communities

Did you know that an estimated 20 million people in the United States live in mobile home or manufactured home communities? These communities make up a significant component of the nation’s affordable housing stock....more

No Happy Trails For Victorville Tax Increment Bond Financing

For more than thirty years, I’ve driven by, but never stopped at, the Roy Rogers and Dale Evans Museum in Victorville, California. The museum eventually relocated to Missouri but reportedly did not survive for long. Despite...more

The Supreme Court Speaks; Some Taxpayers Shudder

Originally published in the Commercial Property Executive on January 16, 2013. Property owners frequently raise legitimate questions about hard-to-fathom differences between assessments of similar properties, as well as...more

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