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Municipal Calendar: California offers $2.3 billion G.O. bonds
Week of March 7
NEW YORK CITY HOUSING DEVELOPMENT CORP.:
$359,255,000 series 2016 multifamily housing bonds
Negotiated
J.P. Morgan Securities LLC, Barclays and Citigroup Global Markets Inc. (lead)
Academy Securities Inc., BofA Merrill Lynch, Drexel Hamilton LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Roosevelt & Cross Inc., Stern Brothers & Co. Inc. and Wells Fargo Securities LLC (co-managers)
Proceeds to finance mortgage loans for affordable multifamily housing projects in the city
$66,445,000 series 2016A fixed-rate bonds due 2016 to 2027 with term bonds due 2017, 2019, 2031, 2036, 2041 and 2047
$21.77 million series 2016B term rate bonds due 2047
$213,165,000 series 2016C term rate bonds due 2020 and 2050
$54.09 million series 2016D fixed-rate bonds due 2017 to 2027 with term bonds due 2031, 2036, 2041 and 2047
$3,755,000 series 2016K fixed-rate bonds due 2019
UNIVERSITY OF ARKANSAS:
$108.57 million series 2016 various facility revenue bonds (Aa2)
Negotiated
J.P. Morgan Securities LLC (lead)
Crews & Associates Inc., Raymond James/Morgan Keegan and Stephens Inc. (co-managers)
Proceeds to renovate, improve, construct and rehabilitate school facilities at the Fayetteville campus
$93,265,000 series 2016A refunding and improvement bonds due 2016 to 2046
$15,305,000 series 2016B taxable refunding bonds due 2016 to 2028
March 8
BOSTON (MASSACHUSETTS):
$148.11 million series 2016 general obligation bonds (Aaa/AAA)
Competitive
First Southwest Co. (financial adviser)
Proceeds to refund the citys series 2007A G.O. bonds and finance capital projects
$140 million series 2016A general obligation bonds due 2017 to 2036
$8.11 million series 2016B general obligation refunding bonds due March 1, 2026
CALIFORNIA:
$2.3 billion series 2016 various purpose general obligation bonds (Aa3/AA-/A+)
Negotiated
Goldman Sachs & Co. and Citigroup Global Markets Inc. (lead)
Siebert Brandford Shank & Co. LLC and U.S. Bancorp Investments Inc. (co-senior managers)
Academy Securities Inc., Alamo Capital Inc., BofA Merrill Lynch, Blaylock Beal Van LLC, BOSC Inc., Drexel Hamilton LLC, Fidelity Capital Markets Inc., FTN Capital Markets LLC, Hilltop Securities Inc., Hutchinson Shockey Erley & Co., J.P. Morgan Securities LLC, Jefferies & Co., KeyBanc Capital Markets LLC, Loop Capital Markets LLC, Mesirow Financial Inc., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, RH Investment Corp., Rice Financial Products Co., Stern Brothers & Co. Inc., Stifel, Nicolaus & Co. Inc., Wells Fargo Securities LLC and William Blair & Co. (co-managers)
Proceeds to finance various capital projects, including school projects, to repay commercial paper notes and to refund existing bonds
$830 million various purpose bonds
$65 million school facilities bonds
$1,155,000,000 various purpose G.O. refunding bonds
$250 million mandatory put bonds
INDIANA FINANCE AUTHORITY:
$175,455,000 series 2016 state revolving fund program green bonds (Aaa/AAA/AAA)
Negotiated
BofA Merrill Lynch and Goldman Sachs & Co. (lead)
Raymond James/Morgan Keegan, KeyBanc Capital Markets LLC and Ramirez & Co. Inc. (co-managers)
Proceeds to make loans to qualified political subdivisions
$103.03 million series 2016A bonds due 2017 to 2036
$72,425,000 series 2016B bonds due 2020 to 2028
March 9
ALASKA:
$134.79 million series 2016A general obligation bonds (Aa1/AA+/AAA)
Competitive
Acacia Financial Group Inc. (financial adviser)
Bonds due 2016 to 2035
Proceeds to fund transportation projects and to repay with other funds $155,215,000 of G.O. bond anticipation notes
EMPIRE STATE DEVELOPMENT CORP. (NEW YORK):
$1,230,130,000 series 2016A state personal income tax revenue bonds (/AA+/AAA)
Negotiated
BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. and Ramirez & Co. Inc. (lead)
Barclays, Goldman Sachs & Co., Jefferies & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Rice Financial Products Co., Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, Blaylock Beal Van LLC, BNY Mellon Capital Markets LLC, Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, KeyBanc Capital Markets Inc., Lebenthal & Co. Inc., M&T Securities Inc., Mesirow Financial Inc., Oppenheimer & Co. Inc., Piper Jaffray & Co., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Southwest Securities Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC, Williams Capital Group LP and U.S. Bancorp Investments Inc. (co-managers)
Bonds due 2018 to 2038
Proceeds to refund existing debt
OHIO WATER DEVELOPMENT AUTHORITY:
$166.62 million series 2016A fresh water development revenue bonds (Aaa/AAA)
Negotiated
Ramirez & Co. Inc. (lead)
PNC Capital Markets LLC, Citigroup Global Markets Inc., Drexel Hamilton LLC and IFS Securities Inc. (co-managers)
Bonds due 2028 to 2036
Proceeds to make loans to qualified government entities to make fresh water system improvements
March 10
DALLAS INDEPENDENT SCHOOL DISTRICT (TEXAS):
$262,965,000 series 2016B multimodal unlimited tax school building bonds (Aaa/AAA/AAA)
Negotiated
Citigroup Global Markets Inc. (lead)
BofA Merrill Lynch, Blaylock Beal Van LLC and William Blair & Co. Inc. (co-managers)
Proceeds to construct, equip, renovate and improve school buildings in the district
$29.51 million series 2016B-1 bonds due Feb. 15, 2036
$36,015,000 series 2016B-2 bonds due Feb. 15, 2036
$37,795,000 series 2016B-3 bonds due Feb. 15, 2036
$27.94 million series 2016B-4 bonds due Feb. 15, 2036
$19.55 million series 2016B-5 bonds due Feb. 15, 2036
$112,155,000 series 2016B-6 bonds due Feb. 15, 2036
Week of March 14
March 15
HAWAII:
$850.55 million series 2016 general obligation bonds
Competitive/Negotiated
First Southwest Co. (financial adviser for 2016FB and 2016FC)
BofA Merrill Lynch and Goldman, Sachs & Co. (lead for 2016FD, 2016FE and 2016FF)
Proceeds to finance capital expenditures for the state and to refund its series 2008DK, 2008DN, 2009DQ and 2011DZ bonds
$500 million series 2016FB bonds due 2019 to 2036
$25 million series 2016FC taxable general obligation bonds due 2017 to 2021
$6 million series 2016FD refunding general obligation bonds due 2016
$182,385,000 series 2016FE refunding general obligation bonds due 2019 to 2028
$137,165,000 series 2016FF refunding general obligation bonds due 2019 to 2028
On The Horizon
ANTELOPE VALLEY HEALTHCARE DISTRICT (CALIFORNIA):
$140 million series 2016A tax-exempt revenue bonds (Ba3)
Negotiated
Lancaster Pollard (lead)
Proceeds to finance seismic improvements to district facilities and refund existing bonds
BLACK BELT ENERGY GAS DISTRICT (ALABAMA):
$1 billion series 2016 gas supply revenue bonds
Negotiated
RBC Capital Markets LLC (sole)
Bonds due 2017 to 2021 with term bond due 2046
Proceeds to make a gas supply purchase
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
HAMPTON ROADS SANITATION DISTRICT (VIRGINIA):
$206,845,000 series 2016A subordinate wastewater revenue bonds (/AA/AA)
Negotiated
BofA Merrill Lynch (lead)
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC (co-managers)
Bonds due 2016 to 2043
Proceeds to finance wastewater capital improvements as part of the districts capital improvement program
HEALTH AND EDUCATIONAL FACILITIES BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY (TENNESSEE)/VANDERBILT UNIVERSITY MEDICAL CENTER:
$530 million series 2016A revenue bonds (A3)
Negotiated
Raymond James/Morgan Keegan, BofA Merrill Lynch and Barclays (lead)
Proceeds to be lent to the medical center to acquire all assets of the hospital from Vanderbilt University
MAYO CLINIC (MINNESOTA):
$300 million series 2016 taxable bonds
Negotiated
BofA Merrill Lynch and Wells Fargo Securities LLC (lead)
Proceeds for general corporate purposes
NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY:
$150 million series 2016E-4 adjustable-rate future tax secured subordinate bonds (Aa1/AAA/AAA)
Negotiated
J.P. Morgan Securities LLC (lead)
Bonds due Feb. 1, 2045
Proceeds to finance city capital expenditures
PARTNERS HEALTHCARE SYSTEM (MASSACHUSETTS):
$100 million series 2016 taxable bonds (Aa3/AA-/AA)
Negotiated
J.P. Morgan Securities LLC (lead)
BofA Merrill Lynch, Barclays, Jefferies & Co., TD Securities (USA) LLC and Wells Fargo Securities LLC (co-managers)
Proceeds for general corporate purposes
WESTCHESTER COUNTY LOCAL DEVELOPMENT CORP. (NEW YORK)/WESTCHESTER MEDICAL CENTER OBLIGATED GROUP:
$284.26 million series 2016 revenue bonds (Baa2/BBB)
Negotiated
Wells Fargo Securities LLC (lead)
Drexel Hamilton LLC, Loop Capital Markets LLC and Raymond James/Morgan Keegan (co-managers)
Proceeds finance capital projects for the obligated group and to refund its series 2010B revenue bonds
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