Collapse of ARS Market Gave Huge Shot in the Arm to VRDB Volume

Albano, Christine
February 2009
Bond Buyer;2/9/2009, Vol. 367 Issue 33058, p9A
Trade Publication
The article reports on the impact of the collapse of auction-rate securities (ARS) market in 2008 in the U.S. According to municipal bankers, analysts and underwriters, the collapse resulted to the increase of demand for variable-rate demand bonds (VRDBs). It cites that issuers are forced to seek for alternative options in the variable-rate market.


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