RBC Capital Markets said on Thursday it expanded its investment banking business group with the hire of Kevin Smith, Frank Napolitano and Ron Eliasek. Napolitano will head the formation of a new power and utilities group, while Smith will head the US industrials group and Eliasek will be co-head of its U.S. technology investment banking.
Real estate investment trusts could be the next frontier for infrastructure financing, according to a report released yesterday by Deloitte LLP. But legislation is needed to clarify questions of eligibility if public-sector entities want to secure REIT investments.
The largest underwriters continued to dominate the municipal market in the first quarter of 2010, but one minority-owned, municipal-only firm managed to break into the top 10.
Liquefied natural gas producer and distributor PNG Ventures Inc. and its subsidiaries exited bankruptcy last week. The Dallas-based company also changed its name to Applied Natural Gas Fuels Inc.
Eighteen years after founding and running a specialty fixed-income banking boutique, John Utendahl has joined Deutsche Bank as a vice chairman.
The tight supply situation in the primary tax-exempt bond market will get a $2 billion boost from one issuer next week when the California Department of Water Resources prices power supply revenue bonds.
All of The Bond Buyers weekly yield indexes on long-term debt declined this week, as municipals firmed up in nearly every session.
Critics of a new nuclear loan guarantee program warned a House Oversight Committee panel this week that it would subsidize too-risky investments, while backers claimed the program is critical to nuclear development.
Los Angeles Mayor Antonio Villaraigosa ended a standoff with the City Council over electricity rate hikes, bringing to a close a political battle of wills that had hurt the citys ratings and delayed a $720 million power revenue bond deal.
Infrastructure in the U.S., especially for water systems and surface transportation, is desperately in need of investment, the Urban Land Institute and Ernst & Young declared this week. Their report criticized governments from the local to federal levels for their sluggish movement toward transportation and infrastructure financing reform.