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Statements

Subject Item
dbr:Tobacco_bond
rdfs:label
Tobacco bond
rdfs:comment
In finance, a tobacco bond is a type of US bond issued by a state to obtain immediate cash backed up with a won lawsuit against a tobacco company. The typical tobacco bond lasts 30 years or less and pays interest every year.
dcterms:subject
dbc:Government_bonds_issued_by_the_United_States
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45584522
dbo:wikiPageRevisionID
878216396
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dbr:Lawsuit dbr:California dbr:Tobacco_Master_Settlement_Agreement dbr:Rhode_Island dbr:Bond_(finance) dbr:Municipal_bond dbr:Reynolds_American dbr:Philip_Morris_USA dbc:Government_bonds_issued_by_the_United_States dbr:Lorillard
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n8:how-tobacco-bonds-work-and-what-can-go-wrong
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dbt:Debt dbt:Corporate_finance_and_investment_banking dbt:Bond_market dbt:Reflist dbt:Orphan
dbo:abstract
In finance, a tobacco bond is a type of US bond issued by a state to obtain immediate cash backed up with a won lawsuit against a tobacco company. The typical tobacco bond lasts 30 years or less and pays interest every year. By 2014, tobacco bonds made up $94 billion of the $3.7 trillion municipal bond market. They share a revenue stream from the Tobacco Master Settlement Agreement, a 1998 national settlement in which Philip Morris, Lorillard and Reynolds American agreed to make annual payments to states in perpetuity to resolve liabilities for health-care costs related to smoking. Some states — Alaska, California, Iowa, Michigan, New Jersey, New York, Ohio, Rhode Island, West Virginia, as well as Washington, D.C., Puerto Rico and Guam — borrowed against the funds, which are based on cigarette shipments.
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wikipedia-en:Tobacco_bond?oldid=878216396&ns=0
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wikipedia-en:Tobacco_bond