Detroit Water And Sewer Bond Tender Appears To Fall Short
According to tender agent data, the holders of $5.2 billion of Detroit water and sewer revenue bonds turned in only 28.34 percent of the debt for repurchase before Thursday’s expiration of the city’s tender offer. Real-time data posted online by Bondholder Communications Group showed nearly $1.47 billion of senior and second lien bonds were tendered by the 5 p.m. deadline set by the city when it announced the offer on Aug. 7.
“Detroit Water And Sewer Bond Tender Appears To Fall Short” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.