Industrial Development Revenue Bond


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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.
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The company has acquired USD74,945,000 in aggregate principal amount of the Industrial Development Revenue Bonds and the Industrial Development Refunding Revenue Bonds, originally issued by Clark County, Nevada, US, for an aggregate of USD57,744,231 in tender offer consideration inclusive of accrued and unpaid interest.
In April 2004, the 30-year-old company looked at building a new plant in the Glenwood area and began the process required for the state to issue industrial development revenue bonds to help finance expansion.
Securities and Exchange Commission, assigned a 'AA-'/'F1+' rating to the $4,000,000 Hale County Industrial Development Corporation variable rate demand industrial development revenue bonds (Jess Visser d/b/a White River Ranch Project), series 2004.
The Jonesboro City Council approved on Tuesday issuing up to $41 million of industrial development revenue bonds for Unilever United States Inc.
The purchase price consists of USD5.156m in cash and an assumption of TIN Inc's USD14.844m in debt guarantees associated with Union County, Arkansas Taxable Industrial Development Revenue Bonds that were issued in 1998 to finance the construction of the Del-Tin Fiber facility.
New York: Fitch Ratings has upgraded the Clark County, NV industrial development revenue bonds (Southwest Gas Corporation Project), series 2003A to 'AA'/'F1+' from 'AA-'/F1+' due to the action taken by Fitch on the bonds' enhancement provider, JP Morgan Chase Bank, N.A.
4 August 2010 - S&P on Tuesday upgraded to AA+/A-1+ from AA-/A-1+ its rating on Newton Town, Wisconsin's USD3m (EUR2.3m) variable-rate industrial development revenue bonds, series 2001.

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