Individual investors pay more on the recently issued market, MSRB says

Individual investors pay more than institutional investors to access new municipal bond deals, a Municipal Securities Rulemaking Board research report found. "Individual investors often obtain a large portion of their bonds in the recently issued market and at higher prices than institutional investors, which dominate the primary market," the MSRB said.

From politics to disclosure to funding, the changing climate challenges muni issuers. Learn more in our Climate Spotlight 2024 package.

Junk-rated Pennsylvania nonprofit regional healthcare system Tower Health plans to exchange outstanding debt and issue new bonds to help bring about its turnaround. Tower Health plans to issue, through the Berks County Municipal Authority, $1.335 billion of revenue bonds, including an exchange of $1.178 billion of debt for new bonds.

Register now for The Bond Buyer's Infrastructure event — including the induction of our newest Hall of Fame class — in September in Philadelphia.

Groundbreakings on public infrastructure projects jumped in July and are expected to accelerate later this year if the Federal Reserve begins to trim interest rates. That's the latest update from Dodge Construction Network, which tracks construction projects across the nation from planning through groundbreaking.

Watch what the municipal bond industry’s innovators and influencers are saying in our Leaders series of video interviews. Check out our lineup of future live interviews and archived conversations.

Municipals were steady Monday as U.S. Treasuries were slightly weaker and equities ended mixed.

Advance rates are available for The Bond Buyer’s California Public Finance conference, coming to San Francisco in October.

Eastern Gateway Community College in Ohio will dissolve and close after a series of missteps and scandals. Red flags include settling a lawsuit with the Department of Education over its handling of Pell Grants for students; a grand jury indictment of its former president and his chief of staff; and failing to file on the Municipal Securities Rulemaking Board’s EMMA website the required annual financial reports. In June 2020, the college issued $12.585 million of general receipts improvement bonds, covered by the Ohio Community and Technical College Credit Enhancement Program.

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