Municipal Calendar: Los Angeles Water plans $480 million deal

Week of May 20

ABAG FINANCE AUTHORITY FOR NONPROFIT CORPORATIONS/ESKATON PROPERTIES INC. (CALIFORNIA): $53,085,000 series 2013 revenue refunding bonds (/BBB/); negotiated; Cain Brothers Inc. (lead); bonds due 2013 to 2023 with term bond due in 2035; proceeds to refund the corporation's series 2008B variable-rate revenue refunding bonds; pricing week of May 20.

ARLINGTON INDEPENDENT SCHOOL DISTRICT (TEXAS): $76,483,000 series 2013 unlimited tax refunding bonds (Aa1); negotiated; Wells Fargo Securities LLC (lead); proceeds to refund outstanding debt for no less than a 5.25% net present value savings; pricing week of May 20.

CUPERTINO UNION SCHOOL DISTRICT (CALIFORNIA): $62,965,000 series 2013 general obligation refunding bonds (Aa1); negotiated; Piper Jaffray & Co. (lead); proceeds to advance refund on a crossover basis the district's election of 2001 series B bonds, advance refund the district's election of 2001 series C bonds and current refund the district's series 2005 G.O. revenue bonds; week of May 20.

• $1.45 million series 2013A bonds

• $23,865,000 series 2013B taxable bonds

• $37.65 million series 2013C bonds

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $117,285,000 series 2013 school districts revenue bond financing program revenue bonds; negotiated; Raymond James/Morgan Keegan and Roosevelt & Cross Inc. (lead); Jefferies & Co., M.R. Beal & Co., Ramirez & Co. Inc. and RBC Capital Markets LLC (co-managers); proceeds to finance school district and school facility improvements, as well as to refinance bond anticipation notes; pricing week of May 20.

• $35.32 million series 2013A bonds (/A+/A+)

• $7,725,000 series 2013B bonds (/AA/A+)

• $27.97 million series 2013C bonds (/AA-/A+)

• $6.33 million series 2013D bonds (Aa3//A+)

• $39.94 million series 2013E bonds (/A+/A+)

FRISCO INDEPENDENT SCHOOL DISTRICT (TEXAS): $92,315,000 series 2013 unlimited tax school building and refunding bonds (Aa1); negotiated; Raymond James/Morgan Keegan (lead); proceeds to finance the construction of the district's seventh high school, the early construction stages of its eighth high school and the construction of two new elementary schools, as well as to refund existing debt for a net present value savings with no extension of final maturity; pricing week of May 20.

LOS ANGELES DEPARTMENT OF WATER AND POWER: $480 million series 2013 power system revenue bonds (Aa3/AA-/AA-); negotiated; Goldman, Sachs & Co. (lead for 2013B, sole for 2013C); Barclays, De La Rosa & Co., RBC Capital Markets LLC, BMO Capital Markets, Fidelity Capital Markets Inc., J.P. Morgan Securities LLC, Ramirez & Co. Inc. and The Williams Capital Group LP (co-managers for 2013B); proceeds to finance capital improvements included in the department's integrated resource plan; pricing week of May 20.

• $452,145,000 series 2013B bonds

• $27,855,000 series 2013C bonds

LOUISIANA: $162 million series 2013C general obligation refunding bonds (Aa2/AA/AA); negotiated; Goldman, Sachs & Co. and Raymond James/Morgan Keegan (lead); bonds due 2013 to 2026; proceeds to refund the state's series 2006A and 2008A G.O. bonds; pricing week of May 20.

MASSACHUSETTS HOUSING FINANCE AGENCY: $115 million series 2013B non-AMT housing bonds (Aa3); negotiated; Barclays (lead); proceeds to finance mortgage loans for qualified Massachusetts residents; pricing week of May 20.

OAKLAND UNIVERSITY (MICHIGAN): $58,735,000 series 2013A general revenue bonds; negotiated; BofA Merrill Lynch and Fifth Third Securities Inc. (lead); bonds due 2016 to 2027; proceeds to construct a new parking structure, athletic fields, administrative buildings, a new road and other campus improvements; pricing week of May 20.

OHIO UNIVERSITY: $140 million series 2013 general receipts bonds (Aa3/A+/); negotiated; Barclays and Goldman, Sachs & Co. (lead); The Huntington Investment Co., PNC Capital Markets LLC and Rice Financial Products Co. (co-managers); proceeds to refinance construction projects and refund the university's series 2001 bonds; pricing week of May 20.

PORT OF SEATTLE (WASHINGTON): $87,755,000 series 2013 special facility revenue refunding bonds (A2/A-/); negotiated; Barclays (lead); BofA Merrill Lynch, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Backstrom McCarley Berry & Co. LLC and Drexel Hamilton LLC (co-managers); bonds due 2014 to 2033; proceeds to refund the port's series 2003 SeaTac revenue bonds; pricing week of May 20.

RHODE ISLAND CLEAN WATER FINANCE AGENCY: $51,235,000 series 2013A water pollution control revolving fund revenue bonds (/AAA/AAA); negotiated; Janney Montgomery Scott LLC and BofA Merrill Lynch (lead); Roosevelt & Cross Inc., Morgan Stanley & Co. LLC and Oppenheimer & Co. (co-managers); bonds due 2015 to 2034; proceeds to finance loans to governmental entities for water pollution control projects; pricing week of May 20.

SAN BERNARDINO UNIFIED SCHOOL DISTRICT (CALIFORNIA): $130.7 million series 2013 general obligation bonds (A2); negotiated; Piper Jaffray & Co. (lead); proceeds to acquire, repair and construct district facilities and defease a portion of the district's outstanding qualified school construction bonds COPs as well as to refund the district's election of 2004A-B and 2004 G.O. refunding bonds; pricing week of May 20.

• $43 million series 2013A G.O. bonds

• $87.7 million series 2013B G.O. refunding bonds

UNIVERSITY OF SOUTHERN MISSISSIPPI/S.M. EDUCATIONAL BUILDING CORP.: $51,895,000 series 2013 revenue bonds (Aa2); negotiated; Morgan Stanley & Co. LLC (lead); Raymond James/Morgan Keegan and Duncan-Williams Inc. (co-managers); bonds due 2014 to 2033 with term bonds due 2038 and 2043; proceeds to finance certain improvements and capital expenditures including the construction and equipment of student residence halls on the main campus in Hattiesburg, Miss., as well as to demolish abandoned facilities and refund all of the university's series 1997A bonds; pricing week of May 20.

May 21

CALIFORNIA DEPARTMENT OF WATER RESOURCES: $118,425,000 series AQ Central Valley Project water system revenue bonds (Aa1/AAA/); competitive; Montague DeRose and Associates LLC (financial adviser); proceeds to construct water system project and retire commercial paper notes; pricing May 21.

METROPOLITAN DISTRICT OF HARTFORD (CONNECTICUT): $187,446,000 series 2013 general obligation bond anticipation notes (Aa1/AA+/); competitive; First Southwest Co. (financial adviser); proceeds to finance water, sewer and public improvement projects, as well as to finance clean water projects; pricing May 21.

• $87,446,000 series 2013A notes due March 25, 2014

• $100 million series 2013B notes due March 25, 2014

PRINCE GEORGE'S COUNTY (MARYLAND): $216.65 million series 2013C consolidated public improvement general obligation bonds (Aaa/AAA/AAA); competitive; Public Advisory Consultants (financial adviser); bonds due 2014 to 2033; proceeds to construct, acquire, equip, improve and rehabilitate county facilities including schools, libraries, fire and police facilities; pricing May 21.

May 22

NEW YORK CITY: $950 million series 2013 general obligation bonds (Aa2//AA); negotiated; BofA Merrill Lynch (lead); proceeds to refund outstanding G.O.s for a debt service savings and to fix out a portion of the city's outstanding variable-rate demand bonds; pricing May 22.

• $230 million series 2013I G.O. bonds

• $720 million series 2013J G.O. bonds

Week of May 27

May 29

MARICOPA COUNTY COMMUNITY COLLEGE DISTRICT (ARIZONA): $151.09 million series 2013 general obligation bonds (Aaa/AAA/AAA); competitive; RBC Capital Markets LLC (financial adviser); bonds due 2014 to 2027; proceeds to make improvements to district facilities; pricing May 29.

Day to Day

TEXAS: $98.7 million series 2013A college student loan refunding bonds (Aaa/AA+/); competitive; First Southwest Co. (financial adviser); bonds due 2014 to 2023; proceeds to refund the state's series 1999 college student loan bonds and its series 2003 variable-rate college student loan and refunding bonds; pricing day-to-day between May 15 and June 15.

On the Horizon

CHICAGO BOARD OF EDUCATION: $403.98 million series 2013A unlimited tax general obligation refunding bonds; negotiated; J.P. Morgan Securities LLC (lead); Loop Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers); proceeds to refund certain outstanding G.O. bonds.

• $122,605,000 series 2013A-1 G.O. bonds due March 1, 2026

• $124.32 million series 2013A-2 Sifma index bonds due March 1, 2035

• $157,055,000 series 2013A-3 Sifma index bonds due March 1, 2036

CLAYTON COUNTY WATER AUTHORITY (GEORGIA): $66,685,000 series 2013 water and sewage revenue refunding bonds (Aa2); negotiated; Raymond James/Morgan Keegan (lead); proceeds to refund the authority's series 2003 and 2004 bonds for a $7.1 million net present value savings or 10.6% of refunded principal with no extension of maturities.

• $17,995,000 series 2013A bonds

• $48.69 million series 2013B taxable bonds

CLEVELAND COUNTY EDUCATIONAL FACILITIES AUTHORITY (OKLAHOMA): $67,995,000 series 2013 educational facilities lease revenue bonds; negotiated; D.A. Davidson & Co. (lead); bonds due 2014 to 2018; proceeds to construct two new elementary schools and a new junior high school, as well as to make repairs and improvements to existing school facilities.

HOWARD HUGHES MEDICAL INSTITUTE (MARYLAND): $1.65 billion series 2013A taxable fixed-rate bonds (Aaa/AAA/); negotiated; J.P. Morgan Securities LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); bonds due March 1, 2023; proceeds to fund an account established by the institute to create a reserve for its program spending.

JACKSON ENERGY AUTHORITY (TENNESSEE): $58.8 million series 2013 taxable telecommunications system revenue refunding bonds (/AA-/); negotiated; SunTrust Robinson Humphrey (lead); bonds due 2014 to 2026; proceeds to refund the authority's series 2003 taxable telecommunications system revenue bonds.

LOUISIANA: $303,125,000 series 2013B Libor index gasoline and fuels tax revenue refunding bonds (Aa2/AA/AA-); negotiated; J.P. Morgan Securities LLC (lead); proceeds to refund the state's series 2009A-1 and series 2010A revenue bonds.

• $200 million series 2013B-1 Libor index bonds due 2043

• $103,125,000 series 2013B-2 Libor index bonds due 2043

LOUISIANA STATE BOND COMMISSION/BIONITROGEN LOUISIANA HOLDINGS LLC: $1.25 billion tax-exempt bonds; proceeds to construct five plants in Point Coupee Parish, La., to convert biomass into urea fertilizer.

METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA: $145.49 million series 2013 water revenue refunding bonds (Aa1/AAA/AA+); negotiated; Goldman, Sachs & Co. (lead for 2013A, 2013C); De La Rosa & Co. Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC and US Bancorp Inc. (co-managers for 2013A, 2013C); J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead for 2013B); proceeds to refund existing water revenue bonds.

• $90.46 million series 2013A bonds due 2013 and 2018 to 2021

• $18.7 million series 2013B taxable bonds due 2018

• $13,505,000 series 2013C-1 bonds due 2027

• $14.02 million series 2013C-2 bonds due 2025

• $8,805,000 series 2013C-3 bonds due 2023

MOON INDUSTRIAL DEVELOPMENT AUTHORITY (PENNSYLVANIA)/BAPTIST HOMES SOCIETY: $143.49 million series 2013 revenue bonds; negotiated; H.J. Sims & Co. (lead); bonds due 2023, 2033 and 2048; proceeds to refund the authority's series 2007 variable-rate Baptist Homes Society revenue bonds.

OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT: $108,785,000 series 2013 single-family mortgage bonds; negotiated; J.P. Morgan Securities LLC and BofA Merrill Lynch (lead); Fidelity Capital Markets LLC, Morgan Stanley & Co. LLC, Piper Jaffray & Co. and Wells Fargo Securities LLC (co-managers); proceeds to make mortgage loans to qualified Oregon residents.

• $13,405,000 series 2013A non-AMT bonds due 2019 to 2023 with term bonds due in 2028, 2038 and 2043

• $15 million series 2013B AMT bonds due 2014 to 2019 with term bond due in 2034

• $78.38 million series 2013C taxable bonds due 2014 to 2024 with term bond due in 2034

VIRGINIA HOUSING DEVELOPMENT AUTHORITY: $310 million series 2012C commonwealth mortgage bonds remarketing (Aaa/VMIG 1/A-1+/); proceeds originally to finance mortgage loans.

• $90 million C-STEM V bonds

• $80 million C-STEM VI bonds

• $70 million C-STEM VII bonds

• $70 million C-STEM VIII bonds

VIRGINIA RESOURCES AUTHORITY: $155.62 million series 2013 clean water state revolving fund revenue refunding bonds (Aaa/AAA/AAA); negotiated; Jefferies & Co. (lead); BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and TD Securities (USA) LLC (co-managers); bonds due 2013 and 2018 to 2029; proceeds to refund the authority's series 2007 bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.