Word: bondses
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
The default had been expected for weeks, so the municipal bond market reacted quietly, with most prices holding fairly steady. But concern about Whoops' woes had been depressing the market for months. Public utilities building power plants have had to promise exceptionally high tax-exempt interest rates of more...
Victims of the default, who thought the bonds were a safe haven for their money, were feeling outrage and despair. Many elderly bondholders were depending on the securities for retirement income, but the bonds that had been bought as recently as March 1981 for $5,000 sold last week for...
Insurance companies, which own about 15% of the Nos. 4 and 5 bonds, are probably the biggest losers. According to A.M. Best Co., an insurance-industry research firm, Aetna Life & Casualty held $50 million worth of the securities at the end of last year, while Fireman's Fund, a...
Bondholders eager to reduce their losses are banding together to sue virtually everyone with any connection with the default. Besides Whoops, the defendants include a group of 88 utilities in the Northwest. They had originally agreed to pay for the plants, but later some of them backed out of their...
Investors snapped up the bonds partly because they seemed to have the solid support of Government agencies. Securities financing the first three plants were backed by the Bonneville Power Administration, which has responsibility for making payments on the debt. To meet that obligation and other costs, BPA has boosted the...