Government entities across Indiana have spent the past two years refinancing every possible bond to take advantage of historically low rates, but the savings might not be so easy to come by if rates continue to rise.
Toll revenue appropriated by the Indiana General Assembly is scheduled to pay off $1.48 billion in bonds by 2051.
You know the investing climate is unusual when a stock’s dividend yields more than bonds issued by the same company.
Defying decades of investment history, ordinary Americans spooked by the Great Recession have been selling more stocks than they’ve been buying. The selling has not let up despite unprecedented measures by the Federal Reserve to persuade people to buy and the come-hither allure of a levitating market.
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
Loren Matthes helped broker first tax-increment financing deal in the state
Carmel City Councilor Eric Seidensticker on Thursday morning proposed an ordinance that would require the council to sign off on any additional debt. The ordinance is backed by at least five of the seven councilors.
State municipal-bond banks in Indiana, Vermont, Maine and New Hampshire plan to issue about $190 million in debt this week, as smaller communities seek to take advantage of 10-year interest rates near a six-week low.
The move is expected to save $8 million to $9 million over the life of the bonds.
The Indianapolis-based hospital system plans to sell $228.2 million in bonds this week to refinance existing debt and pay to finish construction of its Saxony hospital in Fishers, set to open late this year.
Municipal bond manager Josh Gonze of Thornburg Investment Management in Santa Fe, N.M., picked the $80 million bond on Carmel's Palladium concert hall as one of the six best in the nation.
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
Inflation is a sinister sort of tax that confiscates wealth. Bonds will lose value in an inflationary environment as interest rates rise.
State lawmakers are exploring the idea of paying back more than $2 billion in federal debt for unemployment insurance by issuing tax-exempt bonds.
Interest rates on municipal bonds have ticked up in the last two months to pre-recession levels as investors have pulled their money from bond funds in droves. That pattern has begun, gradually, to reverse, but the higher rates could add to the cost of issuing debt for pending city projects.
A strong balance sheet, experienced management, and conservative debt and investment policies contributed to the strong rating.
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce
borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied
on misguided assumptions, and taxpayers paid.
Clarian is planning to spend $1.7 billion in the next five years on capital projects, half of that going to its downtown Indianapolis
campuses.
The Health & Hospital Corp. of Marion County got good news in its first round of borrowing to finance a new Wishard
hospital: The cost is less than expected.
Indianapolis has fared better than some airports in terms of declining revenue, with passengers down
about 10 percent for much of the year and revenue off 16 percent at one point.
