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Municipal Calendar: Florida Development preps $1.75 billion bond offering
Week of November 16
CONNECTICUT
$650 million series 2015 general obligation bonds
Negotiated
Barclays (lead)
Ramirez & Co. Inc., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Wells Fargo Bank, NA, Baird & Co., Blaylock Beal Van LLC, Estrada Hinojosa & Co. Inc., Jefferies & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Piper Jaffray & Co., Prager & Co. LLC, Rice Financial Products Co., Stifel, Nicolaus & Co. Inc., William Blair & Co. and Williams Capital Group LP (co-managers)
Proceeds to finance capital and water pollution control projects in the state
$585 million series 2015F general obligation bonds due 2016 to 2034
$65 million series 2015G green general obligation bonds due 2019 and 2035
FLORIDA DEVELOPMENT FINANCE CORP.
$1.75 billion series 2015A-B All-Aboard Florida Passenger Rail project surface transportation facilities revenue bonds
Negotiated
BofA Merrill Lynch (lead)
Proceeds to finance a commuter rail linking Miami with Orlando International Airport
SAN FRANCISCO STATE BUILDING AUTHORITY AND OAKLAND STATE BUILDING AUTHORITY (CALIFORNIA)
$161.84 million series 2015 lease revenue refunding bonds (A1/A+/A)
Negotiated
Ramirez & Co. Inc. and William Blair & Co. (lead)
Blaylock Beal Van LLC, Mischler Financial Group Inc., Alamo Capital, City National Securities, Fidelity Capital Markets Inc., Great Pacific Securities Inc., Hilltop Securities Inc., Hutchinson, Shockey, Erley & Co., Janney Montgomery Scott LLC, Prager & Co., Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
Proceeds to refund the authorities series 1996A and 2005A lease revenue bonds
$102.87 million series 2015A San Francisco State Building bonds
$58.97 million series 2015A Oakland State Building bonds
November 18
CITY OF INDUSTRY (CALIFORNIA)
$330 million series 2015A taxable senior sales tax revenue refunding bonds (A1/A/)
Negotiated
Stifel, Nicolaus & Co. (lead)
2017 to 2051
Proceeds to finance capital expenditures for the city, as well as to refund the citys series 2008 sales tax revenue bonds
ILLINOIS STATE TOLL HIGHWAY AUTHORITY
$400 million series 2015B toll highway senior revenue bonds (Aa3/AA-/AA-)
Negotiated
Ramirez & Co. Inc. (lead)
Barclays, Goldman Sachs & Co., J.P. Morgan Securities LLC, Fifth Third Securities Inc., Oppenheimer & Co., Piper Jaffray & Co., PNC Capital Markets LLC and Stifel, Nicolaus & Co. (co-managers)
Bonds due 2027 to 2040
Proceeds to finance highway capital improvements
KENTUCKY STATE PROPERTY AND BUILDINGS COMMISSION
$111.87 million series 2015 project No. 110 revenue and revenue refunding bonds (Aa3//A+)
Negotiated
Citigroup Global Markets Inc. (lead)
Morgan Stanley & Co. LLC; Raymond James/Morgan Keegan; J.J.B. Hilliard, W.L. Lyons LLC; PNC Capital Markets LLC; First Kentucky Securities Corp.; Fifth Third Securities Inc.; FTN Financial Capital Markets; and Ross, Sinclaire and Associates (co-managers)
Bonds due 2016 to 2035
Proceeds to finance various projects, including economic and community development projects, as well as to refund existing wastewater and drinking water bonds
MISSISSIPPI
$293,595,000 series 2015 general obligation bonds (Aa2/AA/AA+)
Negotiated
J.P. Morgan Securities LLC (lead for 2015F), Piper Jaffray & Co. (lead for 2015G)
Loop Capital Markets LLC and Duncan-Williams Inc. (co-managers for 2015F), Wells Fargo Securities LLC (co-manager for 2015G)
Proceeds to finance capital improvements to Jackson State University, Mississippi State University, University of Mississippi, University of Mississippi Medical Center and Alcorn State University, as well as junior and community colleges in the state
$117,325,000 series 2015F tax-exempt bonds due 2026 to 2035
$116.27 million series 2015G taxable bonds due 2016 to 2025
PALM BEACH COUNTY (FLORIDA)
$122.24 million series 2015 professional sports franchise public improvement general obligation bonds (Aa1/AA+/AA+)
Negotiated
Goldman Sachs & Co. (lead)
Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (co-managers)
Proceeds to construct a new professional sports franchise facility in the county
$65.39 million series 2015C bonds due 2017 to 2030 with term bonds due 2035 and 2045
$56.85 million series 2015D taxable bonds due 2024 to 2040 with term bonds due 2045
SAN DIEGO UNIFIED SCHOOL DISTRICT (CALIFORNIA)
$450 million series 2016 general obligation bonds (Aa2//AAA)
Negotiated
Citigroup Global Markets Inc. and Goldman Sachs & Co. (lead)
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (co-managers)
Proceeds to repair and rehabilitate school facilities and finance environmentally sound projects in the district
$350 million series 2016F G.O. bonds
$100 million series 2016G G.O. green bonds
Day-to-Day
PUERTO RICO AQUEDUCT AND SEWER AUTHORITY
$750 million series 2015A senior lien revenue bonds (Caa3//CC)
Negotiated
BofA Merrill Lynch and J.P. Morgan Securities LLC (lead)
Popular Securities and Santander Securities (co-managers)
Proceeds to finance capital projects under the authoritys five-year capital improvement plan
On The Horizon
CALIFORNIA WATER RESOURCES AUTHORITY/CENTRAL VALLEY
$109.39 million series AU water system revenue index floating-rate bonds (Aa1/AAA/)
Negotiated
Stifel, Nicolaus & Co. Inc. (lead)
Proceeds to refund all of the authoritys series 1 water revenue commercial paper notes
CINCINNATI (OHIO)
$140,175,000 series 2015 general obligation bonds (Aa2/AA-/)
Negotiated
RBC Capital Markets LLC (lead)
KeyBanc Capital Markets Inc., PNC Capital Markets LLC and Rice Financial Products Co. (co-managers)
Proceeds to finance city vehicle acquisitions; improvements to park and recreational facilities, streets and other public buildings; and refunding outstanding bond anticipation notes
$122.05 million series 2015A unlimited tax various purpose G.O. improvement and refunding bonds due 2015 to 2035 with term bond due 2040
$3.45 million series 2015B taxable qualified energy conservation G.O. bonds due 2035
$14,675,000 series 2015C unlimited tax various purpose taxable G.O. refunding bonds due 2015 to 2026
DISTRICT OF COLUMBIA
$99.03 million series 2015 revenue bonds
Negotiated
H.J. Sims & Co. (lead)
Proceeds to construct, design, furnish, equip and improve a 57,000 square-foot national law enforcement museum in D.C.
$76,095,000 series 2015A bonds due 2025, 2030, 2035, 2044 and 2049
$22,935,000 series 2015B bonds due July 1, 2025
FLORIDA DEVELOPMENT FINANCE CORP./SHANDS JACKSONVILLE MEDICAL CENTER
$85 million series 2015 health care facilities revenue bonds
Negotiated
Bank of America, NA (purchaser)
Proceeds to finance capital improvements to the medical centers north campus in Jacksonville
FLORIDA HOUSING FINANCE CORP.
$50 million series 2015-1 non-AMT homeowner mortgage revenue bonds (Aaa)
Negotiated
Morgan Stanley & Co. LLC (lead)
Citigroup Global Markets Inc., RBC Capital Markets LLC, Raymond James/Morgan Keegan and BofA Merrill Lynch (co-managers)
Bonds due 2017 to 2025 with term bonds due in 2030, 2035, 2040, 2045 and 2047
Proceeds to finance mortgage loans for affordable housing projects in the state
GROSSMONT UNION HIGH SCHOOL DISTRICT (CALIFORNIA)
$51.17 million series 2015 general obligation refunding bonds (Aa3)
Negotiated
Stifel, Nicolaus & Co. LLC and Citigroup Global Markets Inc. (lead)
Proceeds to refund series 2008 G.O. bonds
HAMILTON (OHIO)
$103,655,000 series 2015 electric system revenue refunding notes (/SP-1+/)
Negotiated
Fifth Third Securities Inc. (lead)
Notes due Sept. 27, 2016
Proceeds to refund the citys series 2002A-B electric system revenue refunding bonds and series 2014 bond anticipation notes
HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP. (TEXAS)/BAYLOR COLLEGE OF MEDICINE
$75 million series 2015 medical facilities mortgage revenue refunding bonds (/A-/)
Negotiated
BofA Merrill Lynch and Barclays (lead)
Bonds due Nov. 15, 2045
Proceeds to refund the corporations series 2012B revenue bonds issued for Baylor College of Medicine
HIALEAH (FLORIDA)
$50 million series 2015 special obligation revenue bonds (/A+/A-)
Negotiated
Stifel, Nicolaus & Co. (lead)
BofA Merrill Lynch, RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
Proceeds to pay an outstanding loan agreement between the city and the Florida Municipal Loan Council, as well as to refund the citys series 2005A revenue bonds
$25 million series 2015A taxable bonds due 2019 to 2030 with term bond due 2034
$25 million series 2015B refunding bonds due 2016 to 2030 with term bond due 2034
HOUSTON (TEXAS)
$150 million series 2015D-E combined utility system revenue refunding bonds (/AA/AA)
Negotiated
Citigroup Global Markets Inc. (lead)
Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Coastal Securities Inc., IFS Securities Inc. and RBC Capital Markets LLC (co-managers)
Proceeds to the citys series 2005, 2006, 2006A, 2007A-B, 2008B and 2009A revenue bonds
IDAHO HOUSING AND FINANCE ASSOCIATION
$157,555,000 series 2015A grant and revenue anticipation refunding bonds (A2//A+)
Negotiated
Citigroup Global Markets Inc. (lead)
Barclays, BofA Merrill Lynch and Morgan Stanley & Co. LLC (co-senior managers)
D.A. Davidson & Co., KeyBanc Capital Markets Inc., Piper Jaffray & Co., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and Zions Bank (co-managers)
Proceeds to refund the associations series 2006 and 2008A bonds
KERRVILLE HEALTH FACILITIES DEVELOPMENT CORP./PETERSON REGIONAL MEDICAL CENTER
$55.31 million series 2015 hospital revenue bonds (/BBB+/BBB+)
Negotiated
RBC Capital Markets LLC (lead)
Proceeds to be lent to the medical center to refund outstanding bonds
LEE MEMORIAL HEALTH SYSTEM (FLORIDA)
$277,065,000 series 2015A hospital revenue and revenue refunding bonds (A2/A/)
Negotiated
BofA Merrill Lynch (lead)
Proceeds to finance a construction project at the Golisano Childrens Hospital of Southwest Florida in Fort Myers, as well as to refund existing revenue bonds
LONG ISLAND POWER AUTHORITY (NEW YORK)
$266.23 million series 2015 electric system general revenue bonds (Baa1/A-/)
Negotiated
J.P. Morgan Securities LLC and Ramirez & Co. Inc. (lead for 2015B), J.P. Morgan Securities LLC (lead for 2015C)
Academy Securities Inc., Drexel Hamilton LLC, Loop Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers for 2015B), Academy, Drexel, Loop, Ramirez and Siebert (co-managers for 2015C)
Proceeds to finance electric system improvements and refund the authoritys series 1A and 2B variable-rate bonds, of which there is $149 million of principal outstanding
$117.23 million series 2015B bonds
$149 million series 2015C Libor floating-rate index tender notes due May 1, 2033
LOS ANGELES DEPARTMENT OF AIRPORTS (CALIFORNIA)/LOS ANGELES INTERNATIONAL AIRPORT
$304,145,000 series 2015 senior revenue bonds (Aa3/AA/AA)
Negotiated
Siebert Brandford Shank & Co. LLC (lead)
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Ramirez & Co. Inc. and Stifel, Nicolaus & Co. Inc. ( (co-managers)
Proceeds to finance interior and terminal improvements at LAX
$276,085,000 series 2015D AMT bonds
$28.06 million series 2015E non-AMT bond
LOS ANGELES COUNTY REDEVELOPMENT REFUNDING AUTHORITY (CALIFORNIA)
$158 million series 2015 tax allocation revenue refunding bonds (/AA-/)
Negotiated
Stifel, Nicolaus & Co. Inc. and Citigroup Global Markets Inc. (lead)
Proceeds to partially refund the authoritys series 2002 and 2005 tax allocation bonds
$76 million series 2015A tax-exempt bonds
$82 million series 2015B taxable bonds
LUZERNE COUNTY (PENNSYLVANIA)
$140 million series 2015 general obligation refunding bonds
Negotiated
Citigroup Global Markets Inc. (lead)
Proceeds to refund the countys series 1998A, 2002C and 2005A bonds and its series 2006A notes
MARIN COUNTY (CALIFORNIA)
$82.84 million series 2015 certificates of participation (Aa2/AA+/)
Competitive
Wulff, Hansen & Co. (financial adviser)
Bonds due 2015 to 2045
Proceeds to finance the construction, equipment, acquisition and improvement of county facilities, as well as to refund the countys series 2010 COPs
MASSACHUSETTS
$150 million series 2015 special obligation dedicated tax revenue bonds
Negotiated
Proceeds to finance capital project
MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/LAHEY HEALTH
$234.45 million series 2015F revenue bonds (/A+/A+)
Negotiated
Citigroup Global Markets Inc. (lead)
BofA Merrill Lynch and Wells Fargo Securities LLC (co-managers)
Proceeds to refund the agencys series 2005C and 2007D revenue bonds
MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY
$75 million series 2015B level I education loan revenue bonds (/AA(sf)/Asf)
Negotiated
Morgan Stanley & Co. LLC (lead)
Proceeds to acquire MEFA refinancing loans
$25 million series 2015B-1 floating-rate bonds due Jan. 1, 2032
$50 million series 2015B-2 fixed-rate bonds due Jan. 1, 2032
METROPOLITAN WASHINGTON AIRPORTS AUTHORITY (DISTRICT OF COLUMBIA)
$350,025,000 series 2015 airport system revenue and refunding bonds (A1/AA-/AA-)
Negotiated
Morgan Stanley & Co. LLC and RBC Capital Markets LLC (lead)
Citigroup Global Markets Inc., Goldman Sachs & Co., Raymond James/Morgan Keegan and Siebert Brandford Shank & Co. LLC (co-managers)
Proceeds to finance airport capital improvements and refund the authoritys series 2005B revenue bonds
$283,925,000 series 2015B AMT revenue and refunding bonds
$35,455,000 series 2015C non-AMT refunding bonds
$30,645,000 series 2015D taxable revenue refunding bonds
MIAMI BEACH (FLORIDA)
$192.95 million series 2015 resort tax revenue bonds
Negotiated
BofA Merrill Lynch (lead)
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC (co-managers)
Bonds due 2016 to 2035 with term bonds due 2040 and 2045
Proceeds to construct and acquire renovations to the Miami Beach Convention Center
MIAMI BEACH REDEVELOPMENT AGENCY (FLORIDA)
$343,385,000 series 2015 tax increment revenue and refunding bonds
Negotiated
Morgan Stanley & Co. LLC (lead)
Wells Fargo Securities LLC, BofA Merrill Lynch, Raymond James/Morgan Keegan and Loop Capital Markets LLC (co-managers)
Proceeds to advance refund the agencys series 1998A and current refund its series 2005B revenue bonds
$306,045,000 series 2015A revenue and refunding bonds due 2017 to 2035 with term bonds due 2040 and 2044
$37.34 million series 2015B taxable bonds due 2016 to 2023
MICHIGAN FINANCE AUTHORITY
$284,615,000 series 2015 local government program water supply system revenue bonds
Negotiated
Citigroup Global Markets Inc. (lead)
Barclays, J.P. Morgan Securities LLC, BofA Merrill Lynch, PNC Capital Markets LLC, Loop Capital Markets LLC and Piper Jaffray & Co. (co-managers)
Proceeds to purchase obligations held by the Detroit Water and Sewerage Department
$155.96 million series 2015C bonds due 2021 to 2035
$89,895,000 series 2015D-1 bonds due 2016 to 2034
$38.76 million series 2015D-2 bonds due 2034
MICHIGAN FINANCE AUTHORITY/MCLAREN HEALTH
$154,555,000 series 2015D hospital revenue refunding bonds (Aa3//AA-)
Negotiated
J.P. Morgan Securities LLC (lead)
Proceeds to refund series 2008A-B revenue bonds
$78.94 million series 2015D-1 bonds
$75,615,000 series 2015D-2 bonds
MINNEAPOLIS (MINNESOTA)/FAIRVIEW HEALTH SERVICES
$116,805,000 series 2015A health care system revenue bonds (A2/A+/)
Negotiated
Citigroup Global Markets Inc. and RBC Capital Markets LLC (lead)
Proceeds to construct, equip, acquire and improve facilities at the University of Minnesota Medical Center and to refund the health services series 1997, 2000, 2002 and 2005 revenue bonds
MISSION ECONOMIC DEVELOPMENT CORP./NATGASOLINE
$1.4 billion series 2015 revenue bonds
Negotiated
BofA Merrill Lynch (lead)
Credit Agricole CIB (co-manager)
Proceeds to finance the construction, equipment and installation of a methanol production facility in Beaumont, Texas, for Natgasoline
$1,159,860,000 series 2015A taxable senior lien revenue bonds
$240.14 million series 2015B tax-exempt junior lien revenue bonds
MONTGOMERY INDEPENDENT SCHOOL DISTRICT (TEXAS)
$232,405,000 series 2015 unlimited tax school building and refunding bonds (Aaa/AAA/)
Negotiated
Piper Jaffray & Co. (lead)
Coastal Securities Inc., Raymond James/Morgan Keegan, Stifel, Nicolaus & Co. Inc. and Wells Fargo Securities LLC (co-managers)
Bonds due 2017 to 2045
Proceeds to construct, equip, acquire and renovate school buildings in the district, as well as to refund the districts series 2006A school building bonds, series 2006B refunding bonds and series 2007 school building bonds
NEW YORK STATE HOUSING FINANCE AGENCY
$92.79 million series 2015C affordable housing revenue bonds
Negotiated
Barclays (lead)
J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and Wells Fargo Securities LLC (co-managers)
Bonds due 2015 to 2026 with term bonds due 2018, 2019, 2030, 2035, 2040 and 2048
Proceeds to finance six mortgage loans for affordable housing projects within the state
NEW YORK STATE HOUSING FINANCE AGENCY
$53.88 million series 2015E affordable housing revenue bonds
Negotiated
Siebert Brandford Shank & Co. LLC and J.P. Morgan Securities LLC (lead)
BofA Merrill Lynch, Citigroup Global Markets Inc., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and Wells Fargo Securities LLC (co-managers)
Bonds due 2017 to 2026 with term bonds due in 2017, 2018, 2019, 2030, 2035, 2040 and 2048
Proceeds to finance four mortgage loans for the construction and acquisition of affordable housing projects in Monroe, Onondaga, Broome and Bronx counties
NEW YORK STATE MORTGAGE AGENCY
$151,775,000 series 2015 homeowner mortgage revenue bonds
Negotiated
Citigroup Global Markets Inc. (lead)
BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Academy Securities, Barclays, Blaylock Beal Van LLC, CastleOak Securities LP, Loop Capital Markets LLC, Ramirez & Co. Inc. and Raymond James/Morgan Keegan (co-managers)
Proceeds to purchase recently originated mortgages, acquire new mortgages and finance down payment assistance loans
$45.41 million series 192 non-AMT bonds due Oct. 1, 2031 and Oct. 1, 2035
$20.64 million series 193 non-AMT bonds due 2016 to 2018 with term bond due 2040
$85,725,000 series 194 AMT bonds due 2018 to 2026 with term bonds due 2028 and 2035
ONONDAGA COUNTY RESOURCE RECOVERY AGENCY (NEW YORK)
$52,965,000 series 2015 revenue bonds (A2/AA/)
Negotiated
TD Securities (USA) Inc. (lead)
Proceeds to provide capital funding for agency and refund series 2003B bonds
OREGON
$600 million series 2015A full faith and credit tax anticipation notes (MIG1/SP-1+/F1+)
Negotiated
Citigroup Global Markets Inc. and BofA Merrill Lynch (lead)
Barclays, Goldman, Sachs & Co. and J.P. Morgan Securities LLC (co-managers)
Notes due Sept. 15, 2016
Proceeds to finance cash needs for the coming fiscal year
PAYNE COUNTY ECONOMIC DEVELOPMENT AUTHORITY (OKLAHOMA)/EPWORTH LIVING AT THE RANCH
$107.52 million series 2015 revenue bonds
Negotiated
Ziegler Inc. (lead)
Proceeds to be loaned by the authority to the corporation for the construction, equipment, improvement, renovation and acquisition of The Ranch, an Epworth Living Community, a senior housing facility with 114 independent living units in Stillwater, Okla.
$84.02 million series 2015A bonds
$8 million series 2015B-1 tax-exempt mandatory paydown securities
$12.75 million series 2015B-2 tax-exempt mandatory paydown securities
$2.75 million series 2015C taxable mandatory paydown securities
SAN DIEGO PUBLIC FACILITIES FINANCING AUTHORITY (CALIFORNIA)
$313.62 million series 2015 senior sewer revenue refunding bonds (/AA/AA)
Negotiated
BofA Merrill Lynch (lead)
Academy Securities, Fidelity Capital Markets, Jefferies & Co. and Morgan Stanley & Co. LLC (co-managers)
Bonds due 2016 to 2027
Proceed to refund the authoritys series 2009A-B and 2010A sewer revenue bonds
SOUTH SAN ANTONIO INDEPENDENT SCHOOL DISTRICT (TEXAS)
$307.44 million series 2015 unlimited tax school building and refunding bonds (Aaa//AAA)
Negotiated
Frost Bank and Citigroup Global Markets Inc. (lead)
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC and Stephens Inc. (co-managers)
Bonds due 2016 to 2045
Proceeds to construct, equip, acquire and renovate school buildings in the district and to refund the districts outstanding bonds
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