Cities and counties across the country are eyeing New York City's experiment with securitizing its share of the $206 billion nationwide tobacco settlement. The $625 million in bonds New York will sell over the next four years will be backed by tobacco money it otherwise would be receiving over the next 25 years. Securitizing the money -- borrowing against future cash flows -- allows the city to use the proceeds much sooner.
April 22, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Cities and counties across the country are eyeing New York City’s experiment with securitizing its share of the $206 billion nationwide tobacco settlement as a potential model for their own settlement proceeds.
The $625 million in bonds New York will sell over the next four years will be backed by tobacco money it otherwise would be receiving over the next 25 years. Securitizing the money — borrowing against future cash flows — allows the city to use the proceeds much sooner.
Presented by BigVoodoo
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Consulting Magazine recognizes leaders in technology across three categories Leadership, Client Service and Innovation.
Truly exceptional Bergen County New Jersey Law Firm is growing and seeks strong plaintiff's personal injury Attorney with 5-7 years plaintif...
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
