Price Director

Struggling Pennsylvania hospital chain Tower Health plans to exchange current debt and raise additional funds as it pursues a turnaround.  The system, trustee and bondholders of about $992 million in debt are supporting an exchange of “substantially all” existing bonds, according to a May 31 agreement that Tower Health disclosed in a filing Monday on

The municipal bond market, fragmented and complex, is the original impact investment sector in US markets. If you read this newspaper for any period of time, this is not a novel statement. The idea first gained traction when a Silicon Valley startup raised millions in 2013 in part on this theme and extended into mainstream

Municipals were firmer Thursday as the primary market slowed and muni mutual fund inflows returned. U.S. Treasury yields were little changed and equities ended mixed. Triple-A yields fell another three to eight basis points, depending on the scale. The two-year muni-to-Treasury ratio Thursday was at 67%, the three-year at 67%, the five-year at 69%, the

Kentucky officials are still struggling with how to handle a troubled internet network project nine years after bonds to fund it were sold. Analysts say the KentuckyWired project has lessons on how public-private partnerships should be structured. The political wrangling in-state stands in contrast to rating agencies, who since September have issued the bonds an

Municipals were firmer Wednesday amid another heavy new-issue calendar, led by several large deals that saw yields lowered upon repricing. U.S. Treasuries yields fell further and equities ended up. Issuance remains robust Wednesday with an estimated $5.9 billion, said J.P. Morgan strategists, led by Peter DeGroot. The negotiated calendar was led by $830 million from

St. John’s Lutheran Church sits three blocks from the Capitol in Madison, Wisconsin, in the heart of the up-and-coming East Washington corridor, where development is booming. Many of the developments cater to a well-heeled clientele, such as the Moxy Madison, a boutique Marriott hotel where weekend rates start at $341 a night. Or Archipelago Village,

A surprise primary result means Puerto Rico will have a new governor next year. Puerto Rico Resident Commissioner Jenniffer González Colón upset Gov. Pedro Pierluisi in the race for the New Progressive Party nomination for governor. The New Progressive Party supports statehood for Puerto Rico. As resident commissioner González Colón represents, without being able to

A Connecticut firm’s recent bankruptcy highlights the challenge of investing in the senior living sector, known throughout the muni market as one of the riskier areas, particularly in a post-COVID world. However, some market participants are still bullish, fueled by spread pickup, macro dynamics and demand-driven expansion.  The senior living sector has always been challenged,