Municipal Calendar: Rutgers University organizes $877 million deal

Week of June 10

GUADALUPE-BLANCO RIVER AUTHORITY (TEXAS): $63,155,000 series 2013 contract revenue refunding bonds (Aa1/AA+/); negotiated; Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. (lead); BOSC Inc., Piper Jaffray & Co. and Cabrera Capital Markets LLC (co-managers); proceeds to refund authority's series 2003 Western Canyon Regional Water Supply revenue bonds; pricing week of June 10.

• $56,835,000 series 2013A bonds due 2014 to 2033

• $6.32 million series 2013B taxable bonds due 2014 to 2033

HEMPSTEAD LOCAL DEVELOPMENT CORP./HOFSTRA UNIVERSITY (NEW YORK): $70 million series 2013 revenue bonds (A3/A/); negotiated; Barclays and BofA Merrill Lynch (lead); proceeds to construct a building connected to the university's School of Medicine, to renovate existing facilities and to refund the university's series 2003 civic facility revenue bonds; pricing week of June 10.

METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY (TENNESSEE): $53,095,000 series 2013A electric system revenue refunding bonds (//AA+); negotiated; Raymond James/Morgan Keegan (lead); Barclays, Duncan-Williams Inc., Jefferies & Co., Loop Capital Markets LLC and Stephens Inc. (co-managers); bonds due 2025 to 2029; proceeds to refund the government's series 2004A and 2008B electric system revenue bonds; pricing week of June 10.

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY: $800 million series 2013I future tax secured bonds; negotiated; Loop Capital Markets LLC (lead); BofA Merrill Lynch, J.P. Morgan Securities LLC, Barclays, Morgan Stanley & Co. LLC, Goldman, Sachs & Co., Wells Fargo Securities LLC, Citigroup Global Markets Inc., M.R. Beal & Co., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Fidelity Capital Markets LLC, Oppenheimer & Co. Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Stifel, Nicolaus & Co. Inc., Jefferies & Co., Ramirez & Co. Inc., Rice Financial Products Co., Southwest Securities Inc., BNY Capital Markets LLC, Sterne, Agee & Leach Inc., Estrada Hinojosa & Co. Inc., U.S. Bancorp Investment Co., Prager & Co. LLC and The Williams Capital Group LP (co-managers); bonds due 2015 to 2039; proceeds to finance general city capital expenditures; pricing week of June 10.

NORTHAMPTON GENERAL PURPOSE AUTHORITY/ST. LUKE'S HOSPITAL (PENNSYLVANIA): $65 million series 2013 hospital revenue bonds (A3/BBB+/); negotiated; BofA Merrill Lynch (lead); proceeds to finance a 200-bed expansion to the hospital's Anderson, Pa., campus, as well as to make other renovations to St. Luke's facilities; pricing week of June 10.

• $32.5 million series 2013A bonds

• $32.5 million series 2013B variable-rate bonds

PUBLIC UTILITY DISTRICT NO. 1 OF LEWIS COUNTY (WASHINGTON): $82.86 million series 2013 Cowlitz Falls Hydroelectric project revenue refunding bonds; negotiated; Citigroup Global Markets Inc. (lead); BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan Securities LLC (co-managers); bonds due 2014 to 2032; proceeds to refund the district's series 2003 revenue bonds; pricing week of June 10.

ROWAN UNIVERSITY (NEW JERSEY): $57.19 million series 2013 lease revenue bonds; (A2); negotiated; Raymond James/Morgan Keegan (lead); proceeds to finance capital improvements to the university's school of osteopathic medicine; pricing week of June 10.

RUTGERS UNIVERSITY (NEW JERSEY): $877,005,000 series 2013 general obligation bonds (Aa3/AA-/AA-); negotiated; Morgan Stanley & Co. LLC (lead); BofA Merrill Lynch and Wells Fargo Securities LLC (co-managers); proceeds to refund some of the university's certificates of participation, lease revenue bonds, revenue refunding bonds, general obligation bonds and commercial paper; pricing week of June 10.

• $339,315,000 series 2013J tax-exempt G.O. refunding bonds due 2014 to 2033 with term bond due 2036

• $137.97 million series 2013K taxable G.O. refunding bonds due 2014 to 2028

• $399.72 million series 2013L tax-exempt G.O. bonds due 2033

SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY: $70,591,522 series 2013D homeownership mortgage bonds (Aa1/AAA/); negotiated; BofA Merrill Lynch (lead); bonds due July 1, 2043; proceeds to finance mortgage loans for qualified South Dakota residents; pricing week of June 10.

TERREBONNE LEVEE AND CONSERVATION DISTRICT (LOUISIANA): $89,865,000 series 2013 public improvement sales tax bonds (/A+/A); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2014 to 2038; proceeds to provide hurricane risk reduction projects for Terrebonne Parish, including Morganza to the Gulf of Mexico or other flood protection improvements approved by the Louisiana Coastal Protection and Restoration Authority; pricing week of June 10.

WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/ASCENSION HEALTH ALLIANCE SENIOR CREDIT GROUP: $600 million series 2013 revenue bonds (Aa2/AA+/AA+); negotiated; Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers); proceeds to refinance debt for Marian Health System, Via Christi Health, Ministry Health Care and St. John Health Care and their affiliates; pricing week of June 10.

• $100 million series 2013A bonds

• $500 million series 2013B bonds

Week of June 17

June 18

NEW MEXICO: $220 million series 2013A severance tax bonds (Aa1/AA/); competitive; Fiscal Strategies Group Inc. and Public Resources Advisory Group (financial advisers); bonds due 2014 to 2023; proceeds to finance capital improvements within the state; pricing June 18.

On the Horizon

ARKANSAS DEVELOPMENT FINANCE AUTHORITY: $58,620,389 series 2013A single-family mortgage revenue bonds (/AA+/); negotiated; Stephens Inc. (lead); Crews & Associates Inc., Edward D. Jones & Co. LP and Raymond James/Morgan Keegan (co-managers); bonds due July 1, 2043; proceeds to purchase $64.61 million of series 2013A collateral.

ASCENSION HEALTH ALLIANCE (MISSOURI): $430 million series 2013A taxable bonds (Aa2/AA+/AA+); negotiated; Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers); proceeds for general corporate purposes.

CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY/ST. JOSEPH HEALTH SYSTEM: $763.67 million series 2013 revenue bonds (A1/AA-/AA-); negotiated; Morgan Stanley & Co. LLC (sole); proceeds to construct, equip, acquire, renovate and remodel the Hoag Hospital Newport Beach, St. Joseph Hospital, St. Jude Medical Center, St. Mary Medical Center and Santa Rosa Memorial Hospital.

CLARKSVILLE (TENNESSEE): $66,185,000 series 2013 water, sewer and gas revenue and refunding bonds; negotiated; Morgan Stanley & Co. LLC (lead); Piper Jaffray & Co. and Raymond James/Morgan Keegan (co-managers); proceeds to prepay a loan to the city's public building authority and a loan to the state revolving fund.

• $44.79 million series 2013 senior bonds (Aa3//AA-) due 2020 to 2033 with term bond due 2038

• $21,395,000 series 2013 subordinate bonds (A1//A+) due 2014 to 2020

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.

HOUSTON HIGHER EDUCATION FINANCE CORP./RICE UNIVERSITY (TEXAS): $247.18 million series 2013 higher education revenue refunding bonds (Aaa/AAA/); negotiated; J.P. Morgan Securities LLC (lead for 2013A); Morgan Stanley & Co. LLC (lead for 2013B); proceeds to refund the corporation's series 2006A-B revenue bonds issued for the university.

• $147.18 million series 2013A Sifma index floating-rate bonds due Nov. 15, 2029

• $100 million series 2013B Sifma index floating-rate bonds due May 15, 2048

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.

IRVINE (CALIFORNIA): $84.1 million series 2013 limited obligation improvement bonds; negotiated; Stifel, Nicolaus & Co. and Piper Jaffray & Co. (lead); bonds due 2014 to 2030; proceeds to refund certain outstanding limited obligation bonds.

LITTLE ROCK (ARKANSAS): $58.36 million series 2013 limited obligation capital improvement general obligation bonds (Aa2/AA/); negotiated; Stephens Inc. (lead); Crews & Associates Inc., Loop Capital Markets LLC and Raymond James/Morgan Keegan (co-managers); bonds due 2014 to 2028 with term bonds due in 2030 and 2033; proceeds to finance capital improvements within the city.

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.

MAINE STATE HOUSING AUTHORITY: $55 million series 2013D mortgage purchase bonds; negotiated; BofA Merrill Lynch and Citigroup Global Markets Inc. (lead); J.P. Morgan Securities LLC, Raymond James/Morgan Keegan, Morgan Stanley & Co. LLC and RBC Capital Markets LLC (co-managers); proceeds to make single- and multi-family housing loans.

• $15 million series 2013D-1 AMT bonds due 2018 to 2023 with term bond due 2026

• $40 million series 2013D-2 non-AMT bonds due 2032, 2037 and 2040

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/NORTH HILL COMMUNITIES: $91.23 million series 2013 revenue bonds; negotiated; Ziegler Capital Inc. and M&T Securities Inc. (lead); proceeds to reimburse the authority for the construction of a senior living facility in Needham, Mass.

• $47,625,000 series 2013A bonds

• $6.64 million series 2013B-1 mandatory paydown securities

• $17,625,000 series 2013B-2 mandatory paydown securities

• $12,235,000 series 2013B-3 mandatory paydown securities

• $7,105,000 series 2013B-4 mandatory paydown securities

MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY: $304.72 million series 2013K education loan revenue bonds (/AA(sf)/); negotiated; Morgan Stanley & Co. LLC (lead); BofA Merrill Lynch and J.P. Morgan Securities LLC (co-managers); proceeds to refund the authority's series 2002, 2003, 2004, 2006 and 2007 revenue bonds.

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.

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

MISSISSIPPI DEVELOPMENT BANK: $90 million series 2013 water and sewer system revenue bond project special obligation bonds (A1/AA-/); negotiated; Rice Financial Products Co. and Morgan Stanley & Co. LLC (lead); proceeds to finance water and sewer improvements for Jackson.

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.

NEW HANOVER COUNTY (NORTH CAROLINA)/NEW HANOVER REGIONAL MEDICAL CENTER: $55.23 million series 2013 hospital revenue refunding bonds (A1/A+/); negotiated; RBC Capital Markets LLC and BofA Merrill Lynch (lead); bonds due 2013 to 2026; proceeds to refund the medical center's series 2005 revenue bonds and terminate related swap agreements.

ORANGE COUNTY SCHOOL BOARD (FLORIDA): $85.16 million of series 2013A certificates of participation (Aa2//AA); negotiated; J.P. Morgan Securities LLC (lead); BofA Merrill Lynch, Citigroup Global Markets Inc., Jefferies & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); certificates due 2015 to 2029; proceeds to refund the board's series 2004A COPs.

RICE UNIVERSITY (TEXAS): $115 million series 2013 taxable higher education revenue refunding bonds (/AAA/); negotiated; J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-managers); bonds due May 15, 2063; proceeds to refund the university's series 2008A revenue bonds sold through the Houston Higher Education Finance Corp., as well as to refund a portion of the university's commercial paper.

STATE BUILDING AUTHORITY (MICHIGAN): $540,695,000 series 2013 revenue and revenue refunding bonds (Aa3/A+/AA-); negotiated; Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead); BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays, Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, Jefferies & Co., Loop Capital Markets LLC and Drexel Hamilton LLC (co-managers); proceeds to refund certain commercial paper notes and existing bonds.

• $505,985,000 series 2013-I-A facilities program revenue and revenue refunding bonds due 2014 to 2033 with term bonds due 2043 and 2047

• $34.71 million series 2013-I-B facilities program taxable revenue refunding bonds due 2013 to 2015

TANGIPAHOA PARISH HOSPITAL SERVICE DISTRICT NO. 1/NORTH OAKS HEALTH SYSTEM (LOUISIANA): $66,245,000 series 2013 hospital revenue bonds (/BBB/); negotiated; Raymond James/Morgan Keegan (lead); proceeds to finance hospital improvements for North Oaks, as well as the refund the district's series 2003A revenue bonds.

• $55,445,000 series 2013A refunding bonds due 2014 to 2028

• $10.8 million series 2013B revenue bonds due 2031 and 2034

UNIVERSITY OF PITTSBURGH: $120 million Pitt-asset notes - tax-exempt higher education registered series 2013 (MIG 1/SP-1+/); negotiated; Barclays (lead); proceeds to finance capital projects for the university, as well as to refund the PANTHERS of 2012.

VANCOUVER (WASHINGTON)/DOWNTOWN REDEVELOPMENT AUTHORITY: $55.58 million series 2013 conference center project revenue refunding bonds; negotiated; Piper Jaffray & Co. (lead); proceeds to advance refund the city's series 2003A revenue bonds.

• $38,165,000 series 2013 conference center project revenue refunding bonds (Aa3/AA/) due 2016 to 2028 with term bonds due 2033, 2038 and 2043

• $17,415,000 series 2013 sales and lodging tax revenue refunding bonds (A3/BBB+/) due 2016 to 2028 with term bonds due 2028 and 2034

VERMONT STUDENT ASSISTANCE CORP.: $378.4 million series 2013-1 student loan asset-backed taxable Libor floating-rate notes; negotiated; Morgan Stanley & Co. LLC (sole bookrunner and joint lead manager); RBC Capital Markets LLC (joint lead manager); proceeds to acquire a pool of student loans.

• $371.4 million series 2013-1A notes (/AA+(sf)/AAAsf) due April 30, 2035

• $7 million series 2013-1B notes (//Asf) due Dec. 28, 2040

WASHINGTON STATE HOUSING FINANCE COMMISSION: $107,835,000 series 2013 nonprofit housing revenue bonds; negotiated; Ziegler Capital Inc. (lead); proceeds to construct residential housing units at Rockwood South Hill in Seattle, as well as to refund variable-rate debt.

• $83,985,000 series 2013A revenue and refunding bonds due Jan. 1, 2048

• $4.5 million series 2013B-1 tax-exempt mandatory paydown securities due Jan. 1, 2021

• $4.5 million series 2013B-2 tax-exempt mandatory paydown securities due Jan. 1, 2020

• $14.85 million series 2013B-3 tax-exempt mandatory paydown securities due Jan. 1, 2020

WESTERN RIVERSIDE WATER AND WASTEWATER FINANCING AUTHORITY (CALIFORNIA): $51.71 million series 2013A local agency revenue refunding bonds (/BBB+/); negotiated; Stifel, Nicolaus & Co. Inc. and Piper Jaffray & Co. (lead); proceeds to purchase local obligations and refund existing debt.

• $49.59 million series 2013A-1 bonds due 2014 to 2035

• $2.12 million series 2013A-2 bonds due Sept. 1, 2037

WICHITA (KANSAS)/PRESBYTERIAN MANORS INC.: $83,915,000 series 2013 health care facilities revenue bonds; negotiated; Ziegler Capital Markets Inc. (lead); proceeds to construct, equip, remodel and improve certain assisted living facilities operated by the corporation, as well as to refund the city's series 2004 revenue bonds issued for the corporation.

• $76.79 million series 2013-IV-A bonds

• $7,125,000 series 2013-VI-B bonds

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