San Francisco, Oakland State Building preps $161.84 million bond deal

By Sheri Kasprzak

New York, Nov. 10 – The San Francisco State Building Authority and the Oakland State Building Authority of California are set to price $161.84 million of series 2015 lease revenue refunding bonds, according to a preliminary official statement. Pricing is scheduled for Nov. 17.

The deal includes $102.87 million of series 2015A San Francisco State Building bonds for the San Francisco Civic Center and $58.97 million of series 2015A Oakland State Building bonds for the Elihu M. Harris State Office Building.

The maturities have not been set.

The bonds (A1/A+/A) will be sold on a negotiated basis with Ramirez & Co. Inc. and William Blair & Co. as the lead managers. The co-managers are 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.

Proceeds will be used to refund the authorities’ series 1996A and 2005A lease revenue bonds.

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