bond pool

bond pool

A municipal bond offering in which a sponsor sells an issue of bonds with proceeds used by a number of cities or other tax-exempt organizations. The pool permits small cities with low borrowing requirements to reduce the underwriting and interest costs inherent in a small issue. Because of the varying credit risks associated with cities in a single bond pool, nearly all bond pools are insured as to payment of interest or principal. Also called pool financing.
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The investment management mandate spans four fixed income solutions: MD Short Term Bond Fund, MD Bond Fund, MDPIM Canadian Long Term Bond Pool, and MDPIM Canadian Bond Pool.
TD Asset Management Inc (TDAM), the manager of TD Mutual Funds (NYSE: TD) (TSX: TD), has said that the name TD World Bond Pool has been changed to TD Income Opportunities Pool as on July 21, 2010.
Eddie Tech is finalizing program details and anticipates issuing the first bond pool in the first quarter of 2010.
Under SMCRA, states have flexibility to require mine operators to provide a bond for the full cost of reclamation or participate in an alternative bonding system such as a bond pool, which may combine bonds, taxes on coal production, and other sources of funding.
To date, there is well over $10 million in Grow Bond pool.
Thus, IDBs are normally used only for transactions between $500,000 and $10 million; however, smaller IDB transactions ($500,000 to $2 million) can take advantage of the State's Enterprise Bond Pool Program, which also has lower interest costs.
Although there are a large number of individual borrowers, concentration is moderate for a municipal bond pool, with the top 10 representing approximately 44% of the aggregate loan pool.
A bond pool is a financial intermediary between the municipal bond market and cities that need loans for capital projects.
Fitch views the concentration as moderate-to-high for a municipal bond pool.
Russell Investments Canada appointed DDJ as a high yield sub-adviser for the Russell Global High Income Bond Pool, a Canadian mutual fund
The plan calls for the 150 municipalities do invested in the county bond pool to forgive about $800 million owed to them under the bankruptcy settlement agreed to last May.