Featured Municipal Bond in the Market, Week of 12/05/2016: Commonwealth of Pennsylvania General Obligation Bonds – $613 Million
This week’s featured bond comes from the Commonwealth of Pennsylvania. The Commonwealth is issuing general obligation bonds in the amount of $613 million the week of December 05, 2016. These bonds are scheduled to be issued as a single series, used to refund previously issued general obligation debt of the Commonwealth of Pennsylvania from 2006-2010. Security for the bonds is the full faith and credit of the Commonwealth. Additionally, if sufficient funds are not appropriated for the timely payment of the interest on and principal of all Commonwealth debt, the State Treasurer shall set apart from the first revenues thereafter received to pay interest and principle owed.
These details and more on purposes, security, and other matters pertaining to these Commonwealth of Pennsylvania general obligation bonds can the found in the official statement, provided by the Municipal Securities Rulemaking Board’s EMMA database.
As of October 2016, the Commonwealth of Pennsylvania has an unemployment rate of 5.4%, which is 0.4% higher than the same time last year, and 0.5% higher than the national average.
Provided at left is a quick snapshot of financial characteristics of the Commonwealth of Pennsylvania, 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 Central page. (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.