Investors Take a Turn at Bat: Pittsburgh GOs Split Between Street, Direct Buyers in First-of-Its-Kind Sale
November 10, 1999From the Bond Buyer – Pittsburgh, PA (November 10, 1999) by Jennifer Karchmer and David Hoffman The first test of institutional investors’ appetite for buying municipal bonds directly from their issuers – yesterday’s $56.9 million Pittsburgh general obligation bond sale – produced mixed results. Traditional broker-dealers provided more than three times as many bids than… Read more »
Categories: Auctions
Pittsburgh Offers a New Web Option
October 12, 1999From the Bond Buyer – Atlanta, GA (October 12, 1999) by Robert Whalen and David Hoffman Pittsburgh may again rattle the status quo in the municipal bond market, this time by offering institutional investors the option to bid directly via the Internet on the city’s upcoming $55 million general obligation bond sale. Over the weekend,… Read more »
Categories: Auctions
E-Bidding Innovation: Ohio Begins Online Interim-Fund Auctions
September 28, 1999From the Bond Buyer – Chicago, IL (September 28, 1999) by Mary Wisniewski The Ohio Treasurer’s office next week will usher in a new era of electronic bidding when it becomes the first issuer to use its own private-label Website to conduct an online auction of state investment dollars. State treasury officials have no plans… Read more »
Categories: Auctions
MuniAuction Gets New Investors; Plans to Expand Into GIC Bidding
May 18, 1999From the Bond Buyer – Atlanta, GA (May 18, 1999) by Robert Whalen Even as the ink dried on a second private-label agreement with a financial advisory firm, MuniAuction Inc. was closing a separate deal with a Washington, D.C.-based investment group — selling a minority stake in the company for $6 million. The cash fronted… Read more »
Categories: Auctions
Upcoming Tennessee Note Deal Marks Internet First
April 13, 1999From the Bond Buyer – Atlanta, GA (April 13, 1999) by Robert Whalen The Tennessee Local Development Authority is breaking new ground by electronically selling $33 million of bond anticipation notes next week. The Ban deal, scheduled for April 22, marks the first time short-term tax- exempt debt securities will be electronically sold. Bids will… Read more »
Categories: Auctions
PFM Site’s Bond Sale, Its First, Goes Off Without a Hitch
March 31, 1999From The Bond Buyer – Harrisburg, PA (March 31, 1999) by Ivan Cintron Public Financial Management Inc. completed the first competitive bond sale over its new private-label Website last Thursday, attracting several out- of-state bidders, according to sources involved with the deal. The sale of $10 million of general obligation bonds by Monroeville, Pa., through… Read more »
Categories: Auctions
AON Bids Win Airport Bonds in N.Y. State’s First Maturity-by-Maturity Offering
November 20, 1998From The Bond Buyer – New York, NY (November 20, 1998) by Rober Whalen Maturity-by-maturity bidding was offered over the Internet in New York for the first time when the Albany County Airport Authority sold two series of revenue bonds through the MuniAuction Inc. bidding system. But for the second time in three MuniAuction sales,… Read more »
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Internet Gives Bidders on Portland Sewer Bonds a Chance to Tweak Their Offers
September 11, 1998From The Bond Buyer – Portland, OR (September 11, 1998) by Michael B. Marois Portland, Ore., has decided to take a second swipe at electronic bidding over the Internet — this time employing a feature that will allow participants to see if they have the low bid, and if not, to adjust their offer prior… Read more »
Categories: Auctions
Rare Competitive Sale by Florida Hospital Could Spark Trend
July 29, 1998From The Bond Buyer – Sarasota County, FL (July 29, 1998) by Robert Whalen Conventional wisdom has it that hospital deals hit the municipal market through negotiation. So much for convention. Just a couple of weeks ago, Dale Beachey, chief financial officer of the Sarasota County, Fla., Public Hospital District, not only opted to issue… Read more »
Categories: Auctions
Bonds Auctioned Over the Net
November 19, 1997From the USA Today – November 19, 1997 Bonds Auctioned Over the Net By the Associated Press PITTSBURGH – This city shook up the cloistered world of municipal finance Tuesday with a first-ever sale of bonds over the Internet. Pittsburgh also broke new ground by selling its $70 million issue in a live auction, which… Read more »
Categories: Auctions