Featured Municipal Bond in the Market, Week of 11/28/2016: District of Columbia General Obligation Bonds – $578 Million
This week’s featured bond comes from the District of Columbia. The District is issuing general obligation bonds in the amount of $578 million the week of November 28, 2016. These bonds are scheduled to be issued in two series; Series 2016D, $390 million, will be used to capital project expenditures, and Series 2016E, $187 million will be used to advance refund a portion of the District’s outstanding general obligation debt Series 2007C. Security for the bonds is the full faith and credit of the District, as well as a special real property tax, to be levied annually without limit to amount or rate, in order to pay the interest and principle owed.
These details and more on purposes, security, and other matters pertaining to these District of Columbia general obligation bonds can the found in the official statement, provided by MuniOS.
As of October 2016, the Washington D.C. metropolitan area has an unemployment rate of 3.9%, which is 0.3% lower than the same time last year, and 1.0% lower than the national average.
Provided at left is a quick snapshot of financial characteristics of the District of Columbia, along with the medians for other states, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Centralpage. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database. These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.