Municipal Calendar: Golden State Tobacco prepares $1.7 billion bond offering

Week of March 23

ANNE ARUNDEL COUNTY (MARYLAND)

• $383,695,000 series 2015 general obligation bonds

• Competitive

• Public Resources Advisory Group (financial adviser)

• Proceeds to finance general countywide improvements, including police, fire, watershed, storm drains and other public facilities, as well as to refund certain general improvement, water and sewer and golf course project bonds

• Pricing week of March 23

• $191.4 million series 2015 consolidated general improvement bonds due 2016 to 2035

• $77.6 million series 2015 consolidated water and sewer bonds due 2016 to 2045

• $62.8 million series 2015 consolidated general improvement refunding bonds due 2016 to 2027

• $35,755,000 series 2015 consolidated water and sewer refunding bonds due 2016 to 2036

• $16.14 million series 2015 consolidated golf course project bonds due 2016 to 2028

BASTROP INDEPENDENT SCHOOL DISTRICT (TEXAS)

• $53,105,000 series 2015 unlimited tax refunding bonds

• Negotiated

• Stifel, Nicolaus & Co. Inc. and Estrada Hinojosa & Co. Inc. (lead)

• Bonds due 2018 to 2042

• Proceeds to refund district’s series 2007 unlimited tax school building bonds

• Pricing week of March 23

MISSISSIPPI STATE UNIVERSITY EDUCATIONAL BUILDING CORP.

• $61,045,000 series 2015 campus improvement revenue bonds (Aa2/AA/)

• Negotiated

• Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC (lead)

• Bonds due 2015 to 2034

• Proceeds to construct, equip and furnish residence halls and a Center for America’s Vets, as well as to demolish abandoned facilities at the university in Starkville

• Pricing week of March 23

SAN FRANCISCO COMMUNITY COLLEGE DISTRICT (CALIFORNIA)

• $250 million series 2015 general obligation refunding bonds (Aa3/A/)

• Negotiated

• Morgan Stanley & Co. LLC and Jefferies & Co. (lead)

• Backstrom McCarley Berry & Co. LLC and Ramirez & Co. Inc. (co-managers)

• Bonds due 2015 to 2031

• Proceeds to refund district’s series 2002, 2004, 2006 and 2007 G.O. bonds

• Pricing week of March 23

VIRGINIA COLLEGE BUILDING AUTHORITY/MARYMOUNT UNIVERSITY

• $67.05 million series 2015A educational facilities revenue and refunding bonds (Ba1)

• Negotiated

• Morgan Stanley & Co. LLC (sole)

• Bonds due 2015 to 2025

• Proceeds to finance maintenance and improvements to university’s main campus in Arlington and to refinance a term loan and refund authority’s series 1998 bonds and 2009 notes issued for university

• Pricing week of March 23

March 25

ALASKA

• $94.96 million series 2015B general obligation refunding bonds (Aaa/AAA/AAA)

• Negotiated

• Citigroup Global Markets Inc. (lead)

• BofA Merrill Lynch, Goldman, Sachs & Co. and RBC Capital Markets LLC (co-managers)

• Bonds due 2020 to 2029

• Proceeds to refund a portion of state’s series 2009A G.O. bonds

• Pricing March 25

DENTON INDEPENDENT SCHOOL DISTRICT (TEXAS)

• $116.15 million series 2015 unlimited tax refunding bonds (/AA/AA)

• Negotiated

• J.P. Morgan Securities LLC and Raymond James/Morgan Keegan (lead)

• Southwest Securities and Wells Fargo Securities LLC (co-managers)

• Bonds due 2015 and 2018 to 2033

• Proceeds to refund district’s series 2007 and 2008 unlimited tax school building bonds

• Pricing March 25

GOLDEN STATE TOBACCO SECURITIZATION CORP. (CALIFORNIA)

• $1,704,990,000 series 2015A tobacco settlement asset-backed refunding bonds (A1/A/A)

• Negotiated

• Barclays and Citigroup Global Markets Inc. (joint bookrunners)

• Jefferies & Co. (co-senior manager)

• Academy Securities Inc.; Blaylock Beal Van LLC; Drexel Hamilton LLC; First Southwest Co.; FTN Financial Inc.; Hutchinson Shockey Erley & Co.; KeyBanc Capital Markets Inc.; BofA Merrill Lynch; Mesirow Financial Inc.; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Prager & Co. LLC; Raymond James/Morgan Keegan; RH Investment Corp.; Robert W. Baird & Co. Inc.; Southwest Securities Inc.; Stern Brothers & Co.; U.S. Bancorp Investments Inc.; Wedbush Securities Inc.; Wells Fargo Securities LLC; William Blair & Co.; The Williams Capital Group LP; and Wulff, Hansen & Co. (co-managers)

• Bonds due 2016 to 2035 with term bonds due 2040 and 2045

• Proceeds to refund corporation’s series 2005A asset-backed bonds

• Pricing March 25

NEW ORLEANS (LOUISIANA)

• $65 million series 2015A taxable public improvement bonds (A3/A-/A-)

• Competitive

• Public Financial Management Inc. (financial adviser)

• Bonds due 2016 to 2044

• Proceeds to finance improvements to streets, parks, public recreation areas, libraries and other public buildings

• Pricing March 25

NORTH EAST INDEPENDENT SCHOOL DISTRICT (TEXAS)

• $390.33 million series 2015 unlimited tax refunding bonds

• Negotiated

• Citigroup Global Markets Inc. and Stifel, Nicolaus & Co. Inc. (lead)

• Estrada Hinojosa & Co. Inc., Frost Bank, FTN Financial Capital Markets and Piper Jaffray & Co. (co-managers)

• Bonds due 2016 to 2037

• Proceeds to refund district’s series 2007A unlimited tax school building bonds

• Pricing March 25

SCHOOL DISTRICT OF PHILADELPHIA (PENNSYLVANIA)

• $236,155,000 series 2015 general obligation bonds (A1/A+/A+)

• Negotiated

• PNC Capital Markets LLC (lead for 2015A and 2015C), BofA Merrill Lynch (lead for 2015B and 2015D)

• BofA Merrill Lynch, Janney Montgomery Scott LLC and Loop Capital Markets LLC (co-managers for 2015A and 2015C), Janney Montgomery Scott LLC, Loop Capital Markets LLC and PNC Capital Markets LLC (co-managers for 2015B and 2015D)

• Proceeds to finance school capital projects and refund district’s series 2005A-C G.O. bonds

• Pricing March 25

• $46.98 million series 2015A bonds

• $13.5 million series 2015B refunding bonds

• $45.12 million series 2015C taxable bonds

• $130,555,000 series 2015D refunding bonds

STATE PUBLIC SCHOOL BUILDING AUTHORITY/SCHOOL DISTRICT OF PHILADELPHIA (PENNSYLVANIA)

• $80 million series 2015A school lease revenue refunding bonds (A1/A+/A+)

• Negotiated

• Janney Montgomery Scott LLC (lead)

• BofA Merrill Lynch, Loop Capital Markets LLC and PNC Capital Markets LLC (co-managers)

• Proceeds to construct, equip, acquire and improve school facilities, as well as to refund the authority’s series 2006A revenue bonds

• Pricing March 25

ST. JOHNS COUNTY (FLORIDA)

• $52 million series 2015 sales tax revenue and refunding bonds (A1/A+/)

• Negotiated

• RBC Capital Markets LLC (lead)

• Proceeds to acquire, construct and equip a new public works building and a new fire station, as well as to purchase a new hazardous materials response vehicle

• Pricing March 25

UNIVERSITY OF VIRGINIA

• $107,555,000 series 2015B general revenue pledge refunding bonds (Aaa/AAA/AAA)

• Negotiated

• Wells Fargo Securities LLC and J.P. Morgan Securities LLC (lead)

• BofA Merrill Lynch and U.S. Bancorp Investments Inc. (co-managers)

• Bonds due 2019 and 2024

• Proceeds to refund the university’s series 2003A and 2005 general revenue pledge bonds and its series B commercial paper notes

• Pricing March 25

March 26

ELIZABETH (NEW JERSEY)

• $50,238,000 series 2015 general obligation bonds and bond anticipation notes

• Competitive

• Powell Capital Markets Inc. (financial adviser)

• Proceeds to refund outstanding bonds and notes

• $36,575,000 series 2015 general improvement and sewer utility G.O. bonds due 2016 to 2030

• $12,263,000 series 2015 bond anticipation notes due April 8, 2016

• $1.4 million series 2015 taxable special emergency notes due April 8, 2016

NORTH CAROLINA MEDICAL CARE COMMISSION/REX HEALTHCARE

• $50 million series 2015 health care facilities revenue bonds (A2/AA-/AA-)

• Negotiated

• BofA Merrill Lynch and Wells Fargo Securities LLC (lead)

• Proceeds to finance capital improvements and upgrades to Rex Healthcare facilities

• Pricing March 26

Week of March 30

ILLINOIS MUNICIPAL ELECTRIC AGENCY

• $590 million series 2015 tax-exempt bonds

• Negotiated

• Citigroup Global Markets Inc. (lead)

• J.P. Morgan Securities LLC, BMO Capital Markets LLC and PNC Capital Markets (co-managers)

• Proceeds to refund all or portion of agency’s series 2006 and 2007A bonds

• Pricing week of March 30

MASSACHUSETTS

• $150 million series 2015 special obligation dedicated tax revenue bonds

• Negotiated

• Proceeds to finance capital projects

• Pricing week of March 30

On The Horizon

ARKANSAS DEVELOPMENT FINANCE AUTHORITY/BAPTIST MEMORIAL HEALTH CARE CORP.

• $300 million series 2015B health care revenue bonds

• Negotiated

• BofA Merrill Lynch (sole)

• Proceeds to finance the construction of a new hospital in Jonesboro, Ark., as well as to refund commercial paper notes

• $150 million series 2015B1 term rate bonds

• $100 million series 2015B2 index rate bonds

• $50 million series 2015B3 floating rate bonds

BJC HEALTH SYSTEM (MISSOURI)

• $150 million series 2015A taxable bonds (Aa2/AA/)

• Negotiated

• RBC Capital Markets LLC (lead)

• Stifel, Nicolaus & Co., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC (co-managers)

• Proceeds for general corporate purposes

CHICAGO BOARD OF EDUCATION (ILLINOIS)

• $178.1 million series 2015 dedicated alternative revenues general obligation refunding bonds

• Negotiated

• PNC Capital Markets LLC and BMO Capital Markets (lead)

• Cabrera Capital Markets LLC, Loop Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers)

• Proceeds to refund board’s series 2013B-C unlimited tax G.O. bonds

• $89.2 million series 2015A Sifma index bonds due March 1, 2032

• $88.9 million series 2015G Sifma index bonds due March 1, 2032

CHICAGO BOARD OF EDUCATION (ILLINOIS)

• $372.22 million series 2015 dedicated alternate revenues unlimited tax general obligation bonds (/A-/)

• Negotiated

• PNC Capital Markets LLC and BMO Capital Markets (lead)

• Cabrera Capital Markets LLC, Loop Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, Citigroup Global Markets Inc., Estrada Hinojosa & Co., Goldman, Sachs & Co., Jefferies & Co., Mesirow Financial Inc., Ramirez & Co. and William Blair & Co. (co-managers)

• Proceeds to finance capital projects and refund board’s series 2013B-C G.O. bonds

• $175,675,000 series 2015C project bonds

• $100 million series 2015D mandatory put project bonds

• $20 million series 2015E green project bonds

• $76,545,000 series 2015F refunding bonds

COLORADO STATE UNIVERSITY SYSTEM

• $159,875,000 series 2015 system enterprise revenue and refunding bonds (Aa3/A+/)

• Negotiated

• RBC Capital Markets LLC and Morgan Stanley & Co. LLC (lead)

• Proceeds to finance the construction of a multipurpose stadium in Fort Collins, as well as to refund the system’s series 2007A-B, 2008A and 2009A revenue bonds

• $126.89 million series 2015A revenue bonds due 2016 to 2055

• $32,985,000 series 2015B revenue bonds due 2016 to 2030

MCLAREN HEALTH CARE INC. (MICHIGAN)

• $95,275,000 series 2015C taxable bonds (Aa3//AA-)

• Negotiated

• J.P. Morgan Securities LLC (lead)

• Bonds due 2016 to 2030 with term bonds due 2035 and 2038

• Proceeds to refund corporation’s series 2008A revenue bonds

NEW BRITAIN (CONNECTICUT)

• $56 million series 2015A taxable refunding pension general obligation bonds (Baa1/A/)

• Negotiated

• William Blair & Co. (sole)

• Bonds due 2017 to 2026

• Proceeds to refund city’s series 2008C pension obligation G.O. bonds

NORTH CAROLINA MEDICAL CARE COMMISSION/PENNYBYRN AT MARYFIELD

• $69.98 million series 2015 health care facilities first mortgage revenue refunding bonds

• Negotiated

• Ziegler & Co. and Davenport & Co. (lead)

• Bonds due 2015 to 2021 with term bonds due 2025, 2030 and 2035

• Proceeds to refund commission’s series 2005 revenue bonds issued for the senior living facility in High Point, N.C.

PALM BEACH COUNTY SCHOOL BOARD (FLORIDA)

• $65.16 million series 2015C certificates of participation (Aa3//AA-)

• Negotiated

• Morgan Stanley & Co. LLC (lead)

• BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)

• Proceeds to prepay a portion of series 2011A COPs and refund series 2007B COPs

PALM BEACH COUNTY SCHOOL BOARD (FLORIDA)

• $224,515,000 series 2015D certificates of participation (Aa3//AA-)

• Negotiated

• J.P. Morgan Securities LLC (lead)

• BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)

• Bonds due 2015 and 2018 to 2032

• Proceeds to prepay a portion of series 2011A COPs and refund series 2007B COPs

PHILADELPHIA REDEVELOPMENT AUTHORITY (PENNSYLVANIA)

• $73,495,000 series 2015A city service agreement revenue refunding bonds (A2/A+/A-)

• Negotiated

• Goldman, Sachs & Co. and Siebert Brandford Shank & Co. LLC (lead)

• Barclays, Raymond James/Morgan Keegan and Stifel, Nicolaus & Co. (co-managers)

• Bonds due 2027 to 2031

• Proceeds to refund the authority’s series 2005C city service agreement revenue bonds

VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 7 (FLORIDA)

• $62,405,000 series 2015 special assessment revenue refunding bonds (//A)

• Negotiated

• Citigroup Global Markets Inc. (lead)

• Bonds due 2016 to 2025 with term bonds due 2030 and 2036

• Proceeds to refund the district’s series 2006 special assessment revenue bonds

WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY/APPALACHIAN POWER COMPANY – AMOS PROJECT

• $86 million series 2015A solid waste disposal facilities revenue refunding bonds

• Negotiated

• SunTrust Robinson Humphrey (sole)

• Bonds due March 1, 2043

• Proceeds to refund existing bonds

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