Yvette Shields
The Bond Buyer
Chicago, IL, United States
Contact Yvette
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Past articles by Yvette:
Minnesota governor lays out plans for $17 billion state surplus
Tim Walz's proposed budget offers a mix of additional spending, tax cuts, new bonds, and an early payoff of bonds issued for the NFL Vikings' stadium. → Read More
Chicago lures retail, ESG buyers to its first social bond deal
The city received $217 million of retail orders — a rarity in Illinois where local bonds don't benefit from state tax exemption — and interest from 11 ESG funds. → Read More
Midwest voters shake up two legislatures, embrace school bond measures
The Nov. 8th ballot in Midwest states was crowded with bond, governance, and policy questions. → Read More
Chicago will debut first social bond under higher-rated STSC credit
Chicago's Sales Tax Securitization Corp. will sell $150 million of social bonds next month in the city's first ESG-labeled deal. → Read More
Sanford and Fairview take second stab at Upper Midwest hospital merger
The merger talks between South Dakota-based Sanford Health and Minnesota-based Fairview Health are the not-for-profit sector's latest consolidation attempt. → Read More
Pair of positive outlooks brings Chicago more uplifting rating news
Both S&P Global Ratings and Kroll Bond Rating Agency revised their outlooks for Chicago general obligation bonds to positive from stable. → Read More
Frank Hoadley
Longtime Wisconsin Capital Finance Director Frank Hoadley, who died this summer at 77, was quite influential in the public finance industry. → Read More
Raymond James adds Cleveland banker to Ohio public finance team
Cleveland-based public finance banker Tim Reidy joined Raymond James as a managing director. → Read More
Illinois police pension fund consolidation makes progress amid litigation
The consolidation of suburban and downstate firefighter pension fund assets is nearly complete but litigation is delaying the police consolidation. → Read More
Chicago targets pension funding with help from improved revenues
Mayor Lori Lightfoot's proposed budget would forgo an inflation-formula-based property tax hike and make supplemental contributions to the city's pension funds. → Read More
Deepening NFP hospital fiscal wounds cast shadow over 2021 recovery
"The labor noise is probably a little louder and is probably going to be with us for longer than we expected in late 2021 and is probably going to result in lower margins for a bit of time," S&P's Suzie Desai said. → Read More
Chicago will pursue ESG investors and city residents in next GO sale
From disclosure to issuance labels, the Chicago finance team is shaping ESG practices that are top of mind for municipal market. → Read More
Indiana revenue surge sets stage for refunds to taxpayers
Indiana revenues are up $1 billion in the current fiscal year from December revenue projections that already had forecast a multi-billion dollar surplus. → Read More
Chicago staring at $306 million 2023 budget gap
Chicago's preliminary projected gap in the next budget, when Mayor Lori Lightfoot has vowed to reach structural balance, is down from an $867 million estimate. → Read More
Moody's sees ESG and rating positives in Joliet's switch to Chicago water
Joliet closed on two federal WIFIA loans that mark a milestone in the the city's plans to overhaul its water infrastructure. → Read More
Decision coming on challenge to Illinois pension fund consolidation
The suit by local police pension funds slowed the consolidation process that Gov. J.B. Pritzker touted as helping local governments manage rising pension costs. → Read More
Preston Hollow, Nuveen ready arguments over defamation accusations
Nuveen is asking a judge to toss Preston Hollow Capital's defamation claims as a summer trial looms. → Read More
Sales tax backing shields Chicago transit deal from ridership woes
The Chicago Transit Authority's sales tax pledge remains healthy even as it struggles to recover riders amid rising crime and remote work trends. → Read More
Illinois may put $2 billion in ARPA funds toward unemployment loan
The state owes $4.5 billion to the federal government for unemployment benefits paid early in the pandemic; bonds may part of the repayment plan. → Read More
Michigan universities' century bond deals offer risk needle for the market
This month the University of Michigan sold $1.2 billion and Michigan State University sold $500 million of taxable 100-year bonds. → Read More