Municipals Calendar: University of Chicago to sell $500 million revenue bonds

WEEK OF DECEMBER 1

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $668.5 million series 2008 mental health services facilities improvement revenue bonds (/AA-/A+); negotiated; J.P. Morgan Securities Inc. (lead); Banc of America Securities, Jackson Securities, RBC Capital Markets, Roosevelt & Cross, Barclays Capital, Citigroup Global Markets, Loop Capital Markets, Morgan Stanley, M.R. Beal & Co. and Piper Jaffray; proceeds to refund outstanding bonds; pricing week of Dec. 1.

• $595.22 million series 2008F

• $73.28 million series 2008G

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $89.155 million series 2008 school district revenue bonds; negotiated; Depfa First Albany Securities (lead); Roosevelt & Cross, Fidelity Capital Markets, Ramirez & Co. and Wachovia Bank (co-managers); proceeds for loans to certain school districts for capital improvements; pricing week of Dec. 1.

• $41.235 million series 2008C (A2/A+/A+)

• $47.92 million series 2008D (A2/A+/A)

DECEMBER 4

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $107 million series 2008E City University System consolidated fifth general resolution revenue bonds; negotiated; Citigroup Global Markets (lead); Banc of America Securities, Merrill Lynch & Co., Morgan Stanley, Ramirez & Co., Rice Financial Products and Wachovia Bank (co-managers); proceeds to refund outstanding auction-rate obligations; pricing Dec. 4.

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY: $104.56 million series 2008A Canyon Power Project revenue notes (MIG 1/SP-1+/F1+); negotiated; Citigroup Global Markets (lead); notes due Dec. 2, 2009; proceeds as interim financing to construct, develop and acquire Canyon Power Project; pricing Dec. 4.

TRANSMISSION AGENCY OF NORTHERN CALIFORNIA: $424.475 million series 2008 California-Oregon Transmission Project revenue refunding bonds (/A+/A+); negotiated; J.P. Morgan Securities Inc. (lead); Citigroup Global Markets; Goldman, Sachs & Co.; Merrill Lynch & Co.; and Morgan Stanley; 2008A bonds due 2009 to 2020 with term bond due 2029; 2008B bonds due 2014 to 2020 with term bond due 2029; 2008C bonds due 2019 to 2020 with term bond due 2029; 2008D bonds due 2009 to 2018; proceeds to retire agency's series 2002 and 2003 bonds and retire commercial paper notes; pricing Dec. 4.

• $104.485 million series 2008A

• $229.615 million series 2008B

• $32.05 million series 2008C

• $58.325 million series 2008D

UNIVERSITY OF CHICAGO/ILLINOIS FINANCE AUTHORITY: $500 million series 2008B revenue bonds; negotiated; J.P. Morgan Securities Inc. (lead); Banc of America Securities; Cabrera Capital Markets; Goldman, Sachs & Co.; Jackson Securities; Loop Capital Markets; Morgan Stanley; and William Blair & Co. (co-managers); proceeds for financing, refinancing or reimbursing University of Chicago for construction, acquisition, equipment or renovation of educational facilities on campus; pricing Dec. 4

WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/FROEDTERT & COMMUNITY HEALTH: $136.15 million series 2008 revenue bonds (/AA-/AA-); negotiated; Morgan Stanley & Co. (lead); Ziegler Capital Markets (co-manager); proceeds refund prior bonds and terminate qualified hedge related to prior bond sale; pricing Dec. 4.

WEEK OF DECEMBER 8

ILLINOIS FINANCE AUTHORITY/RUSH UNIVERSITY MEDICAL CENTER: $50 million series 2008A variable-rate demand revenue bonds (A3/AAA/A-1+/AA-/F1+); negotiated; Morgan Stanley (lead); bonds due Nov. 1, 2045; proceeds to reimburse capital expenditures to Rush University Medical Center through 2009; pricing week of Dec. 8.

SAN ANTONIO ELECTRIC & GAS SYSTEMS (TEXAS): $218.635 million series 2008A revenue refunding bonds (Aa1/AA+/AA); negotiated; Morgan Stanley, Merrill Lynch & Co., Banc of America Securities (underwriters); bonds due 2010 to 2018; proceeds to refund system's outstanding series 1998A bonds; pricing week of Dec. 8.

DECEMBER 9

COMMONWEALTH OF PENNSYLVANIA: $600 million second series 2008 general obligation bonds; competitive; Public Financial Management (financial adviser); bonds due 2010 to 2029; proceeds for capital facilities projects and green facilities projects; pricing Dec. 9.

KNOXVILLE, TENN.: $115 million series 2008 revenue bonds (Aa3/AA+/); competitive; Morgan Keegan & Co. (financial adviser); electric system bonds due 2011 to 2029; wastewater system bonds due 2011 to 2034; proceeds for construction, renovation, extension and improvements to city's electric and wastewater systems; pricing Dec. 9.

• $40 million series 2008Y electric system revenue bonds

• $75 million series 2008 wastewater system revenue bonds

NORTHWESTERN MEMORIAL HOSPITAL: $235.325 million series 2008 revenue bonds (Aa2/AA+/); negotiated; J.P. Morgan Securities Inc. (lead); Citigroup Global Markets and Loop Capital Markets (co-managers); bonds due 2009 to 2018 with term bonds due 2023, 2028, 2033 and 2038; proceeds for refunding existing bonds and making termination payments related to interest rate swap agreement; pricing Dec. 9.

UNIVERSITY OF TEXAS SYSTEM: $255 million series 2008A revenue financing system bonds (//AAA); negotiated; Morgan Stanley (lead); Morgan Keegan & Co., Loop Capital Markets, Ramirez & Co. and Siebert Brandford Shank & Co. (co-managers); bonds due 2009 to 2024; proceeds to refund outstanding revenue financing system commercial paper notes; pricing Dec. 9.

DECEMBER 10

CITY OF SEATTLE: $257.745 million series 2008 municipal light and power improvement and refunding revenue bonds (Aa2/AA-/); competitive; Seattle-Northwest Securities Corp. (financial adviser); bonds due 2009 to 2034; proceeds for improvements to and conservation projects for city's light system, as well as for refunding of existing bonds; pricing Dec. 10.

DECEMBER 11

MIAMI-DADE COUNTY (FLORIDA): $350 million series 2008B Building Better Communities Program general obligation bonds (Aa3/AA-/); competitive; Public Financial Management (financial adviser); bonds due 2009 to 2038; proceeds for capital improvement projects under the Building Better Communities Program; pricing Dec. 11.

DECEMBER

AUSTIN, TEXAS: $160 million series 2008A water and wastewater revenue refunding bonds (Aa3/AA/AA-); negotiated; Merrill Lynch & Co. (lead); Barclays Capital, Citigroup Global Markets, Morgan Stanley, Morgan Keegan & Co., Southwest Securities Inc., Apex Pryor Securities, Cabrera Capital Markets and Estrada Hinojosa & Co. (co-managers); bonds due 2011 to 2028; proceeds refund $150 million in outstanding tax-exempt commercial paper notes; pricing in December.

BRONSON METHODIST HOSPITAL/KALAMAZOO HOSPITAL FINANCE AUTHORITY: $203.16 million series 2008 hospital revenue refunding bonds (A2); negotiated; Ziegler Capital Markets (lead); bonds due 2009 to 2018 with term bonds due 2028 and 2036; proceeds refund series 1998, 2005A, 2005B and 2006 bonds; pricing in December.

CITY OF ROYAL OAK HOSPITAL FINANCE AUTHORITY/WILLIAM BEAUMONT HOSPITAL (MICHIGAN): $169.595 million series 2008V fixed-rate and series 2008W term-rate revenue and refunding bonds (A1/A/A); negotiated; Morgan Stanley (lead); proceeds for construction and renovation costs, to refund outstanding bonds and pay termination payments made under interest rate hedge agreements for the refunded bonds.

CITY UNIVERSITY OF NEW YORK/DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $719 million variable-rate refunding bonds; pricing in December.

MUNICIPAL ENERGY AGENCY OF NEBRASKA: $75.91 million series 2008A subordinate power supply system revenue bonds (//A); competitive; proceeds to acquire coal-fired plant and make capital improvements to it, redeem series 2003B auction-rate bonds and make a deposit to a debt service reserve fund; pricing in December.

NEW YORK PUBLIC LIBRARY/DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $117 million variable-rate bonds; pricing in December.

DAY-TO-DAY

COLORADO HEALTH FACILITIES AUTHORITY: $55.515 million series 2008 hospital revenue bonds (//AA/F1); negotiated; Wachovia Bank (lead); bonds initially bear interest at daily rate; proceeds to refund authority's series 1993 bonds and make improvements to hospital facilities; pricing on day-to-day basis.

• $39.085 million series 2008A

• $16.43 million series 2008B

FLORIDA MUNICIPAL POWER AGENCY/STANTON II: $110 million series 2008 refunding revenue bonds; negotiated; Wachovia Bank, NA, serial maturities from 2009 through 2027; proceeds to refund $40.725 million from the series 2000 variable-rate bonds and $58.575 million from the series 2004 variable-rate bonds and to pay fees to terminate interest rate swap agreements; pricing on day-to-day basis.

FLORIDA UNIVERSITY SYSTEM BOARD OF GOVERNORS: $96 million series 2008A improvement revenue bonds; competitive; pricing on 18-hour notice.

HARRIS COUNTY TOLL ROAD AUTHORITY (TEXAS) $75 million series 2008A general obligation unlimited tax and subordinated lien revenue refunding bonds; negotiated; Piper Jaffray & Co. (lead); proceeds refund outstanding debt; pricing day-to-day.

PUBLIC GAS PARTNERS (GEORGIA): $165.86 million gas project revenue bonds for Gas Supply Pool No. 1 (A2/A/A); negotiated; J.P. Morgan Securities and Wachovia Bank (lead); 2008A bonds due 2011 to 2018 with term bond due 2022; 2008B bonds due 2022; proceeds to repay a line of credit used to acquire Gas Supply Pool No. 1; pricing day-to-day.

• $110.36 million series 2008A tax-exempt

• $55.5 million series 2008B taxable

PUBLIC GAS PARTNERS (GEORGIA): $60.11 million gas project revenue bonds for Gas Supply Pool No. 2 (A2/A+/A+); negotiated; J.P. Morgan Securities Inc. and Wachovia Bank (lead); 2008A bonds due 2011 to 2018 with term bond due 2022 and 2008B bonds due 2022; proceeds repay line of credit used to acquire Gas Supply Pool No. 2; pricing day-to-day.

• $39.905 million series 2008A tax-exempt

• $20.205 million series 2008B taxable

ON THE HORIZON

CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY: $100 million series 2008A environmental improvement revenue bonds; negotiated; Goldman, Sachs & Co. (lead); bonds due Dec. 1, 2046; proceeds for construction of solid waste disposal facilities.

CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY/METHODIST HOSPITAL OF SOUTHERN CALIFORNIA: $303.76 million series 2008 FHA-insured mortgage revenue bonds; negotiated; Goldman, Sachs & Co. (lead); proceeds to pay for or repay the hospital for the construction, acquisition or equipment of hospital facilities and refund all of the hospital's series 1996 certificates of participation.

CHICAGO: $590.94 million series 2008 general obligation bonds; negotiated; William Blair & Co. (lead); George K. Baum & Co., Mesirow Financial, Estrada Hinojosa & Co., Rice Financial Products, Ramirez & Co. and Siebert Brandford Shank & Co. (co-managers); proceeds for infrastructure improvements and demolition of hazardous, vacant or dilapidated buildings.

CLEVELAND MUNICIPAL SCHOOL DISTRICT (OHIO): $70 million general obligation bond anticipation notes (MIG1//); competitive; SBK-Brooks Investment Corp. and Fifth Third Securities (co-financial advisers); due Sept. 30, 2009; Proceeds to provide new money to acquire sites and construct, renovate, furnish and equip school facilities.

COMMONWEALTH OF VIRGINIA/VIRGINIA PUBLIC BUILDING AUTHORITY: $320 million public facilities revenue bonds (Aa1); proceeds to finance public building projects, including local and regional jail facilities.

• $260 million series 2008B

• $60 million series 2008C

COUNTY OF RIVERSIDE ASSET LEASING CORP. (CALIFORNIA): $78.31 million series 2008A variable-rate demand leasehold revenue refunding bonds (Aaa/VMIG 1/AAA/A-1/); negotiated; Citigroup Global Markets (lead); bonds due Nov. 1, 2032; proceeds for construction and acquisition of new jail facility, new court facility and new juvenile detention facility, know as Southwest Justice Center.

DOCTORS COMMUNITY HOSPITAL/MARYLAND HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY: $59.17 million series 2008 hospital revenue bonds (Baa2); negotiated; UBS Securities; proceeds finance a planned new private bed, six-story patient tower and other capital expenses.

GUAM: $50 million series 2008A general obligation bonds (/B+/); negotiated; Citigroup Global Markets (lead); Piper Jaffray & Co. and Merrill Lynch & Co. (co-managers); proceeds for general fund expenses and payments of collateralized interest through Sept. 30, 2009.

GEORGETOWN UNIVERSITY: $63.85 million series 2008A variable-rate refunding bonds; negotiated; Goldman, Sachs & Co.; due 2029; proceeds to refund $63.85 million from the series 1999A auction-rate bonds.

IRVINE UNIFIED SCHOOL DISTRICT (CALIFORNIA): $81.08 million series 2008 special tax bonds (A3/A/); negotiated; Banc of America Securities and Piper Jaffray (lead); bonds due 2009 to 2020; proceeds to refund outstanding obligations and make deposit to debt service reserve fund.

KALAMAZOO/BRONSON METHODIST HOSPITAL (MICHIGAN): $82.62 million series 2008 revenue refunding bonds (A2//); negotiated; Ziegler Capital Markets; serial maturities from 2010 through 2018 and terms due 2024 and 2028; proceeds to refund the $59.495 million outstanding from the series 2005A revenue refunding bonds on Oct. 15 and the $11.415 million outstanding from the 2005B revenue refunding bonds on Oct. 9, as well as to fund a debt service reserve account.

KENOSHA UNIFIED SCHOOL DISTRICT NO. 1/KENOSHA COUNTY (WISCONSIN): $53.4 million tax and revenue anticipation promissory notes and bond anticipation notes (MIG 1//); PMA Securities (financial adviser); proceeds to finance district operating and maintenance costs and school additions and renovations.

• $33.4 million tax and revenue anticipation promissory notes due Sept. 22, 2009

• $20 million series 2008 bond anticipation notes due 2010

MAYOR AND CITY COUNCIL OF BALTIMORE: $180.37 million general obligation consolidated public improvement refunding bonds (Aa2/AA-/); negotiated; Merrill Lynch & Co. (lead); proceeds to refund certain maturities from the series 2001A, 2001B, 2003A and 2003B consolidated public improvement bonds and to terminate hedge agreements on the bonds.

• $171.445 million series 2008C tax-exempt bonds due 2009 to 2022

• $8.925 million series 2008D taxable bonds due 2012

METROPOLITAN WASHINGTON AIRPORTS AUTHORITY: $175 million series 2008B revenue bonds (Aa3/AA-/AA); negotiated; Siebert Brandford Shank & Co. (lead); proceeds to pay for capital project costs, capitalized interest on outstanding bonds, a deposit to the reserve account and the costs to terminate interest rate swap agreements with Wachovia Bank and the Bank of Montreal.

NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY/SETON HALL UNIVERSITY: $75 million revenue refunding bonds; negotiated; Citigroup Global Markets (lead); proceeds to refund the $50.025 million outstanding from the series 2005C revenue bonds and the $20.2 million outstanding in series 2006A revenue refunding bonds.

• $51 million series 2008D long-term interest rate bonds

• $24 million series 2008E revenue refunding bonds due 2009 to 2028 with terms due 2033 and 2037

NEW MEXICO: $500 million series 2008-2009 tax and revenue anticipation notes (MIG 1/SP-1+/); competitive; Fiscal Strategies Group (financial adviser); bonds due June 30, 2009; proceeds to pay for capital expenses until taxes; pricing Nov. 13.

NEW YORK CITY: $308 million series 2009G general obligation bonds; negotiated; J.P. Morgan Securities Inc. (lead); Citigroup Global Markets; Merrill Lynch & Co.; Morgan Stanley; Banc of America Securities; Barclays Capital; M.R. Beal & Co.; Depfa First Albany Securities; Goldman, Sachs & Co.; Loop Capital Markets; Prager, Sealy & Co.; Ramirez & Co.; RBC Capital Markets; Siebert Brandford Shank & Co.; Wachovia Bank; Cabrera Capital Markets; Commerce Capital Markets; Jackson Securities; Janney Montgomery Scott; Raymond James & Associates; Roosevelt & Cross; and Southwest Securities (co-managers); bonds due 2010 to 2035; proceeds for capital purposes.

• $300 million series 2008G-1 tax-exempt

• $8 million series 2008G-2 taxable

NORTH CAROLINA EASTERN MUNICIPAL POWER AGENCY: $57.96 million series 2008C revenue bonds; negotiated; Citigroup Global Markets; terms due 2018 and 2024; proceeds to finance the costs of terminating swap agreements entered into in 2006 and to make a deposit to a reserve account.

OHIO HOUSING FINANCE AGENCY: $50 million series 2008K residential mortgage revenue bonds (Aaa/VMIG 1); negotiated; Citigroup Global Markets (lead); George K. Baum & Co., Goldman, Sachs & Co., Butler Wick & Co., Barclays Capital, Fifth Third Securities, KeyBanc Capital Markets, SBK-Brooks Investment Corp. and NatCity Investments (co-managers); proceeds for mortgage loans to low- and moderate-income individuals and families.

ORANGE COUNTY SANITATION DISTRICT (CALIFORNIA): $180 million series 2008C certificates of participation (/AAA/SP-1+/); negotiated; Banc of America Securities (lead); COPs due Dec. 10, 2009; proceeds to refund district's outstanding series 2006 COPs.

PANHANDLE-PLAINS HGHER EDUCATION AUTHORITY (TEXAS): $200 million series 2008A1 senior series trust I student loan revenue bonds; negotiated; Banc of America Securities LLC; serial maturities from 2011 through 2023; proceeds to refund outstanding auction-rate bonds and to purchase student loans.

PASCO COUNTY (FLORIDA): $185 million series 2008 water and sewer revenue bonds (Aa3/AA/AA-); negotiated; Morgan Keegan & Co. (lead); Banc of America Securities LLC, Citigroup Global Markets and JPMorgan (co-managers); proceeds to finance county projects.

PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY/ALBERT EINSTEIN HEALTHCARE NETWORK: $88.54 million series 2008A revenue bonds (A3//A-); negotiated; Goldman, Sachs & Co.; serial maturities from 2009 through 2018; proceeds will be used to help refund Hospitals and Higher Education Facilities Authority of Philadelphia series 1998A revenue bonds.

PORT OF SEATTLE: $379.716 million customer facility charge revenue bonds (A2/A-/); negotiated; Lehman Brothers; proceeds to pay a portion of the development costs for a consolidated rental car facility and a bus maintenance facility and to make a deposit to the RCF Account.

• $19.415 million series 2008A current interest bonds due Dec. 1, 2023

• $286.775 million series 2008B-1 current interest taxable bonds due 2011 to 2021 and a term due 2027

• $73.52 million series 2008B-2 taxable capital appreciation bonds due 2027 to 2040

PUERTO RICO MUNICIPAL FINANCE AGENCY: $240 million series 2008A bonds (Baa3/BBB-/); negotiated; Merrill Lynch & Co., Ramirez & Co. and RBC Capital Markets (lead); Banc of America Securities; Barclays Capital; BBVAPR MSD; Citigroup Global Markets; Depfa First Albany Securities; Eurobank MSD; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets; Morgan Stanley; Oppenheimer & Co.; Oriental Financial Services; Popular Securities; Santander Securities; Scotia Capital; UBS Financial Services Inc. of Puerto Rico; and Wachovia Capital Markets (co-managers); bonds due 2009 to 2018 with term bonds due 2023, 2028 and 2033; proceeds to purchase Puerto Rico general obligation bonds and notes from municipalities and the Government Development Bank.

SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY: $63.33 million series 2008H homeownership mortgage bonds (Aa1/AAA/); negotiated; Merrill Lynch & Co. (lead); bonds due Jan. 4, 2010; proceeds to purchase mortgage loans.

STATE OF OHIO: $56.74 million series 2008B infrastructure improvement general obligation refunding bonds (Aa1/AA+/AA+); negotiated; Citigroup Global Markets (lead); Butler Wick & Co., Edward Jones, Fifth Third Securities, Huntington Investment Group, KeyBanc Capital Markets, Merrill Lynch, Rice Financial Products and Ross, Sinclaire & Associates (co-managers); bonds due 2009 to 2014; proceeds to refund existing obligations.

STATE OF TEXAS: $61.175 million series 2008 general obligation bonds (Aa1/AA/AA+); negotiated; Loop Capital Markets (lead); Ramirez & Co., RBC Capital Markets and Wachovia Securities (co-managers); 2008B bonds due 2009 to 2018; 2008C bonds due 2009 to 2018; proceeds refund state's outstanding series 1998A and 1998C water financial assistance bonds.

• $26.27 million series 2008B water financial assistance refunding bonds

• $34.905 million series 2008C water financial assistance refunding bonds

TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS: $129.6 million single family mortgage revenue bonds; negotiated; JPMorgan (lead); proceeds to purchase mortgage-backed, pass-through certificates.

• $79.6 million in series 2008A revenue bonds due 2011 to 2018 and terms due 2023, 2028, 2033 and 2040

• $50 million in series 2008B variable rate revenue bonds due 2040

WINTER PARK, FLA.: $57 million series 2008 water and sewer refunding and improvement revenue bonds (Aa3/AA-/A+); negotiated; Morgan Keegan & Co. and Gardnyr Michael Capital Inc. (lead); proceeds to refund and redeem all outstanding series 2004 bonds and pay for a swap termination.

WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/THEDACARE: $127.57 million series 2008 revenue bonds (A1//AA-); negotiated; Merrill Lynch & Co.; serial maturities from 2009 through 2020 and terms due 2033 and 2037; proceeds to construct, renovate and equip health care facilities and to refund the outstanding $32 million from the series 1997B bonds and $6.5 million from the series 1999B bonds, which priced through the Community Development Authority of the City of Waupaca, Wis.

© 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.