Тред №30357

Florida's Palm Beach County Schools converted $116 million of auction securities into fixed-rate debt this week, while the Seattle area's Valley Medical Center refinanced $170 million. The Port Authority of New York and New Jersey said it would redeem $200 million of the bonds next month, after its weekly interest rate rose as high as 20 percent.

Yesterday's 641 auctions of publicly offered bonds resulted in 395 failures, or 62 percent, according to data compiled by Bloomberg from four major auction agents including Deutsche Bank AG. Just 44 failures were recorded between 1984, when the market was created, through the end of last year, Moody's Investors Service said in a Feb. 19 report.

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