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Tag Archives: bonds

COMMERCIAL FINANCE 701: Payment and performance bonds in construction projects

Construction lenders on large commercial construction loans customarily require payment and performance bonds.  At the loan commitment letter stage, this condition rarely concerns a borrower.  Later, however, when the requirement materializes into a line item in the contractor’s budget, the borrower might have second thoughts.  We attempt to define and appraise the payment and performance bond (P&P Bond). Let’s assume ...

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US stocks retreat as banks, mining companies fall

U.S. stocks are falling Thursday morning and returning some of their recent gains. Banks are skidding as bond yields fall. Energy companies are slipping with the price of oil and metals companies are also down. KEEPING SCORE: The Dow Jones industrial average slid 60 points, or 0.3 percent, to 17,945 as of 10:45 a.m. Eastern time. The Standard & Poor’s ...

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US stock indexes are mostly lower again as drugmakers slip today

U.S. stocks are mostly lower Tuesday morning as health care stocks fall on continued scrutiny of drug prices. Energy companies are rising with the price of oil. Earnings reports are driving much of the action. KEEPING SCORE: The Dow Jones industrial average lost 25 points, or 0.1 percent, to 17,951 as of 10:50 a.m. Eastern time. The Standard & Poor’s ...

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COMMERCIAL FINANCE 701: Loans disguised as government bonds (BOANs)

EDITOR’S NOTE: Commercial Finance 701 is a continuing series on commercial loans written exclusively for the Mississippi Business Journal.  This series is geared to lenders, developers, investors and transactional attorneys. Sir Thomas More, the obstinate attorney who — literally — lost his head over religion, is often misquoted as suggesting the profession of lawyers is “to disguise matters.” Though hardly descriptive ...

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Legislators pushing for bonds to cover Kemper plant costs

KEMPER COUNTY — Lawmakers are advancing a proposal to let Mississippi Power Co. sell bonds to cover expenses above $2.4 billion at the Kemper County power plant it’s building. They also want to allow the Mississippi Public Service Commission to approve a multi-year rate plan, to prevent a rate spike when the plant begins operation. The House Public Utilities Committee ...

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Read December 14 issue of MBJ

>> BONDS ARE BACK Lt. Gov. says he will back “reasonable and rational in size” plans— by Ted Carter Also in this week’s paper: >> BUDGET Funding for PERS is up to departments by Ted Carter >> KEMPER UPDATE Workers’ rights groups forge deal with Southern Co.— by Clay Chandler >> GULF COAST Region sees more jobs ahead for “fragile” recovery ...

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Capital City residents to pay more taxes to support schools

JACKSON — Jackson residents will soon pay more in taxes supporting the city’s school district. When 81 percent of voters in 2006 approved a $150 million bond issue to build more schools and improve others, it meant they were willing to have property taxes raised to pay that debt. But city leaders didn’t raise taxes accordingly, and the school district ...

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County will approve bonds for Old Capital Green, if given financial information

JACKSON — Hinds County has agreed to take on more bond debt to build a parking garage for a proposed $1 billion development if developers provide repeatedly requested financial information. The Board of Supervisors narrowly voted to ask for $17 million in bonds if Full Spectrum South tells how much space is pre-leased, The Clarion-Ledger reported. “We are very uncomfortable ...

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Fitch withdraws ratings on MDOC bonds for prison projects

MARSHALL COUNTY and WILKINSON COUNTY — Fitch Ratings has withdrawn its ratings on the following bonds due to pre-refunding activity: • Mississippi Development Bank (MS) (MSLoan Prog-Mississippi Department of Corrections-Marshall County Correctional Facility Refunding Proj) general obligation special obligation bonds series 2008C (all maturities); and • Mississippi Development Bank (MS) (MSLoan Program-Mississippi Department of Corrections Wilkinson County Correctional Facility) general ...

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