Other large deals, such as the $929.5 million Oklahoma Development Finance Authority health revenue bonds, were bumped by as much as 30 basis points, indicating strong investor appetite.
John Mousseau, executive vice president and director of fixed income at Cumberland Advisors, said the deal was cheap and there was a lot to like.
“The over/under we had in over-subscription was 23, and it was way over that,” he said. “The insured portion was priced not a lot cheaper than insured Puerto Rico (which has not paid investors anything going on two years this summer), plus you get a dominant provider and a teaching hospital.”
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