Financial services firms could be banned from underwriting bonds in Texas due to enforcement of state law targeting corporate governance policies. This risks Texas' robust and competitive bond market, writes Glenn Hamer.of economic growth, job creation, business expansion and corporate relocations.
If the state cancels a deal, the local governments would have to restart the borrowing process.: “Like any other market, if you have fewer bankers or banks to service our issuers, you should suspect that it may cost our Texas issuers more to sell bonds.”— the largest in the state’s history.
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