Midwest in a nutshell: borrowers found ways to refund in 2020

The Buckeye Tobacco Settlement Financing Authority priced a $5.3 billion deal to restructure 2007 bonds, taking the paper off a default track and setting up the long-term possibility that the state will regain the revenues after the debt is paid off. “The Authority delivered on its objectives, lowering debt service costs and creating a more resilient structure. As a result, future tobacco settlement payments now have an opportunity to benefit Ohioans.” said Kim Murnieks, director of the Ohio Office of Budget and Management.

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