Puerto Rico was poised to pay less than a fifth of the guaranteed debt due on Friday, with none of the payment going to the general obligation debt, according to sources.

The Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission to approve rule changes that would create a new academic trade product with anonymous dealer identifiers that has proved somewhat controversial.

On the advice of lead banker Daniel Allen, vice president for underwriter Raymond James, the ADFA decided to delay pricing until June 28.  When the British vote to leave was confirmed, rates fell dramatically.

In one of the biggest rallies in recent memory, municipal bonds surged on Friday after Britain voted to leave the European Union. Yields on some top-rated municipals fell as much as 17 basis points to record low levels. Analysts said the move signaled that yields will remain near all time lows longer than anyone had expected and that negative U.S. interest rates may be on the horizon.

Energy Consortium provides an update to reflect newly Qualified Energy Conservation Bond (QCEB) issuances known issued by states.

Lawmakers received an update on the $4.8 million project when the Essex County IDA asked for board of supervisors approval of a pair of financing incentives designed to keep the business local. Those incentives include tax-exempt bond financing and a one-time abatement of the 1.25 percent mortgage tax.

The content outline for the Series 50 has been amended to reflect changes to the laws, rules and regulations covered by the examination and, among other things, incorporate the functions and associated tasks performed by a municipal advisor representative.

The Missouri Development Finance Board on Tuesday approved roughly $10 million in bonds from its BUILD Bond Program for Centene Corp.'s proposed Clayton expansion project.

Locke Lord LLP is pushing into Ohio with the opening of an office in Cincinnati as part of an expansion of its public finance practice in the Midwest. The Cincinnati office will support clients on a broad range of bond counsel, underwriters' counsel and special tax counsel matters, as well as general corporate tax and other work, the firm said in a press release.

Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Co., added two managing directors in the public finance area, as Megan DeGrass joined the higher education and nonprofit team based in Boston and Evan Levine joined the transportation group in New York.

The benefits of a P3 financing include an efficient construction process and less operational risk for the school, Fitch analysts said in a new report on college P3s.

The Securities and Exchange Commission has settled with a former Chicago charter school operator over charges that he negligently approved and signed a misleading official statement for a $37.5 million bond offering to build three charter schools.

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