Suzan DelBene Buys More Municipal Securities
In early February, it was filed that Suzan DelBene, the Democratic representative for Washington’s 1st congressional district in the House of Representatives, has been purchasing some state bonds for her portfolio.
She made 5 purchases in total, two small purchases between $1,000 - $15,000 of the Seattle City Light offerings expiring in 2045 and the Dormitory Authority of the State of New York offerings expiring in 2025, with a coupon of 5%. Her larger purchases were for the State of Maryland, where she made two purchases, one of $15,000 - $50,000, and another of $50,000 - $100,000 of the same holding, which yields 5% and is due August 1, 2026, and one final purchase of $15,000 - $50,000 of the Arizona Industrial Development Authority also yielding 5% and due November 01, 2029.
Rep. DelBene has been a consistent trader of development-style and state holdings like these over the last year, even buying between $500,000 - $1,000,000 of the Arizona Industrial Development back in December, along with several additional trades. At a coupon rate of 5%, that is a pretty significant return for relatively safe municipal security, so we can see why she finds these holdings attractive. It should be noted that in the trades back in December she did sell a significant amount of similar holdings, between $500,000 - $1,000,000 each of the Maryland and Connecticut state offerings.
Suzan DelBene is an American politician and former technology executive who currently serves as the U.S. Representative for Washington's 1st congressional district. A member of the Democratic Party, she was first elected to the House of Representatives in 2012 and has been reelected in every election since. Prior to her service in Congress, DelBene was a successful businesswoman and served as a top executive at several technology companies, including Microsoft.