A high-yield municipal bond transaction to fund the purchase of businesses related to a casino in upstate New York has been delayed again.
The unrated $561 million deal, managed by KeyBanc Capital Markets, was initially expected to price Aug. 27, but the transaction was postponed to hire legal counsel to advise investors on the transaction. The pricing was then moved to Sept. 11.
Now, KeyBank has “extended the timeline for the sale of the bonds to allow additional time to answer questions and educate investors about the credit,” a spokesperson for the firm said. The underwriter has seen “significant interest from the market in the offering,” the spokesperson said.
Bloomberg Markets
By Erin Hudson and Aashna Shah
September 15, 2025