WASHINGTON -- Large environmental and energy projects were the big winners last year in the private-activity bond volume cap sweepstakes -- but in 1994 their luck is likely to run out.

In 1993, for the second year in a row, issuers of bonds for so-called exempt facilities, such as sewage treatment plants and electric utilities, received allocations under the cap that would otherwise have gone to mortgage revenue bonds and small-issue industrial development bonds, according to a survey by The Bond Buyer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.