As published by Gunjan Banerji, debtwire.com A beefed-up bond security structure laid out in offering documents, alongside high demand for municipals, has allowed Detroit to bring a USD 615m bond deal, said market participants. However, a complex financial relationship with Michigan could hurt… Continue Reading  

As published by DBusiness Daily News Patrick O’Keefe, founder and CEO of O’Keefe LLC, a Bloomfield Hills-based consulting firm, was selected to provide financial reform consulting to Michigan municipalities three years ago. In turn, he has examined public education to… Continue Reading  

As published by Caitlin Devitt, debtwire.com It’s still early for distressed oil-dependent municipalities to consider restructuring or bankruptcy, but the double-digit drop in sales tax revenue afflicting some cities could foreshadow bigger pain next fiscal year, according to municipal restructuring… Continue Reading  

As published by Gunjan Banerji, debtwire.com Detroit Public Schools’ USD 214m in Series 2011 and Series 2012 state aid notes will be refinanced as the distressed district splits into an “old” district and “new” district, Jeremy Sampson, a spokesperson for the… Continue Reading  

As published by Dustin Walsh, Crain’s Detroit Business Key Safety CEO says company is in the hunt for more acquisitions China’s Ningbo Joyson Electronic Corp. is interested in acquiring embattled airbag supplier Takata Corp. Joyson is looking to build on its… Continue Reading  

As published by Gunjan Banerji, debtwire.com Pontiac School District secured yesterday the approval of the Michigan Treasury to restructure a USD 10m emergency loan from the state, said Jeremy Sampson of the Treasury’s office. The terms of the loan will remain the same… Continue Reading  

As published by Kirk Pinho, Crain’s Detroit Business Sam Surnow has his hands in $107 million worth of new development projects in Royal Oak and Birmingham and a real estate ownership and management company with a portfolio valued at $275… Continue Reading  

As published by Mlive Bids are due Friday, March 4, for an outdated municipal office building on the edge of a sizzling hot redevelopment zone of Detroit. The building at 640 Temple is located midway between the new $627 million… Continue Reading  

As published by Andrew Scurria and Gunjan Banerji, debtwire.com The City of Pontiac’s branches of government are at loggerheads over how to leverage an overfunded pension system in its quest to exit receivership, said City Administrator Joseph Sobota. Pontiac’s General Employees… Continue Reading  

As published by the M&A Advisor In 2015, the value of mergers and acquisitions worldwide reached its highest level since before the Great Recession. Yet, storm clouds were on the horizon. China devalued its currency, setting off global market gyrations in August… Continue Reading