The Bond Buyer this week announced a new product designed to help analysts and investors chart upcoming bond redemptions.
The Bond Buyer Redemption Report details all redemptions and eligible first calls, said Joe Mysak, editor and publisher of the newspaper. It will be published quarterly.
Generated by Muniview, the newspaper's municipal bond data base, the report sorts upcoming calls by redemption date, size, and type of bond. It also provides CUSIP numbers, issuers listed alphabetically by state, date of original issue, and amount being refunded, principal amount, and series designation.
Nicholas Boyle, associate publisher of The Bond Buyer and author of the survey accompanying the report, said the product comes at a time when "municipal bonds are being redeemed and called away from investors at an unprecedented rate."
"Portfolios are losing enormous value at each major redemption date," he added. "By 1996, more than $200 billion in tax-exempt securities will have vanished."
While Mysak said a number of products already exist that track past redemptions, he added that "the Refunding Report gives subscribers a real look ahead, in very clear, unambiguous fashion.
"We think it will be a great tool for bankers and lawyers looking to see where new business opportunities will arise, as well as salesmen, financial planners, and investors concerned about their portfollios," he said.
The first part of the report, covering January through March 1993, is available for $975. The second part will be available Feb. 1. Fullyear subscriptions to the quarterly are $3,500.