Seattle City Light, the municipally owned electricity supplier for some 1 million people in Washington state, sold about $791.8 million of revenue bonds as tax-exempt yields fell for the first time in a week.
Partners HealthCare System Inc. , which runs Boston’s Massachusetts General Hospital, is borrowing $420 million for improvements including electronic medical records and to refinance debt, with average tax-exempt yields at close to a 16-month high.
Illinois, whose lawmakers are tackling a $13 billion budget gap, faces rising borrowing costs for a proposed $3.7 billion pension bond as yields on comparably rated taxable debt reach at least an 11-month high.
The Metropolitan Washington Airports Authority plans to sell $650 million of revenue bonds this week to help finance an extension of the U.S. capital’s passenger rail system to Washington Dulles International Airport.
Build America Bonds showed why they’re the fastest-growing part of the municipal market in a $492.7 million sale yesterday by Virginia’s Commonwealth Transportation Board, which let buyers choose between the taxable debt and tax-exempts.
Michigan State University, the 11th- largest college in the U.S. with more than 46,000 students, plans to place new bets in the derivatives market even as it seeks to unwind existing interest-rate swaps linked to its debt.