Industrial Development Revenue Bond

(redirected from IDRBs)

Industrial Development Revenue Bond

A municipal bond in which a local government entity is seeking to raise money for a private company. A municipality issues an IDRB when it wishes to attract a business and the jobs in brings to the area, especially when the business may be otherwise unable to obtain financing for the project.
Mentioned in ?
References in periodicals archive ?
7 million between the twelve-month periods primarily due to the IDRB redemptions in November 2014 and May 2015 and lower interest expense on variable rate IDRBs, partially offset by increased interest expense on purchased gas adjustment balances.
NEW YORK -- The rating action referenced in Fitch Ratings' June 14, 2012, press release ('Fitch to Take Various Actions on Clark Cnty, NV IDRBs (Southwest Gas Corp Proj) Ser 03A'), goes into effect today.
The credit facility, which backed TEP's $130 million of Pima County tax-exempt IDRBs, was terminated and the bonds converted from secured variable- to unsecured fixed-rate mode with a 5.
9 million, or three percent, primarily due to interest savings generated from the refinancing of IDRBs and preferred securities instruments.
The IDRBs have as collateral 2,470,933 square feet of manufacturing facilities located in Chicago and Indiana.
Payment of the obligations of the IDRBs will be payable solely from and secured by payments to be received from Southwest Gas Corporation (SWX).
The reoffered IDRBs will be the tax-exempt, fixed-rate, senior unsecured obligations of TEP.
In March 1998, the first mortgage bonds and collateralized PCRBs and IDRBs were upgraded to 'BB' (Double-B) from 'BB-' (Double-B-Minus) to reflect the strong collateral position of the first mortgage security class.
The organizations he has worked with have raised an estimated $250 million in equity, senior debt, mezzanine financing and IDRBs.
7 million of letters of credit to October 1, 1998, at the rate of 2% per annum, conditioned on the infusion of $60 million in new equity; and (iv) quarterly sinking fund payments of $600,000 to secure the BNP Reimbursement Agreements or redeem a like amount of IDRBs.
DCR) has upgraded the credit ratings of Tucson Electric Power Company (TEP) to the following: first mortgage bonds and collateralized PCRBs and IDRBs to 'BB' (Double-B) from 'BB-' (Double-B-Minus) and noncollateralized PCRBs and IDRBs to 'B+' (Single-B-Plus) from 'B' (Single-B).
The composite issuance, due on May 1, 2032, consists of $2,090,000 Industrial Development Authority (IDA) of the County of Mohave (Arizona) Industrial Development Revenue Bonds (IDRBs), $5,120,000 IDA of the County of Navajo (Arizona) IDRBs and $23,325,000 Illinois Development Finance Authority Environmental Facilities Revenue Bonds.