Municipals Calendar: Sutter Health preps $900 million bond sale

WEEK OF JANUARY 24

SUTTER HEALTH/CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY/CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY: $900 million series 2011 revenue bonds (//AA-); negotiated; Morgan Stanley & Co. Inc. (lead); Bank of America Merrill Lynch and Sutter Securities Inc. (co-managers); proceeds to finance the health care system's ongoing capital plan and refund existing debt; pricing week of Jan. 24.

• $325 million series 2011A bonds from California Statewide Communities Development Authority

• $575 million series 2011B bonds from California Health Facilities Financing Authority

JANUARY 25

FAIRFAX COUNTY (VIRGINIA): $192.02 million series 2011A public improvement and refunding bonds (//AAA); competitive; Public Financial Management Inc. (financial adviser); bonds due 2012 to 2031; proceeds to fund improvements to school facilities, transportation systems and facilities and park and recreation facilities; pricing Jan. 25.

JANUARY 26

ILLINOIS FINANCE AUTHORITY/DEPAUL UNIVERSITY: $50.665 million series 2011B revenue refunding bonds (A3/A-/A); negotiated; Goldman, Sachs & Co. (lead); Barclays Capital Inc., Cabrera Capital Markets LLC and Ramirez & Co. Inc. (co-managers); proceeds to fund capital projects and refund the university's series 2005B-C adjustable-rate bonds; pricing Jan. 26.

JANUARY 27

PORT AUTHORITY OF NEW YORK AND NEW JERSEY: $300 million 166th series consolidated bonds; competitive; bonds due 2030 to 2041; proceeds to fund capital projects and refund debt; pricing Jan. 27.

ON THE HORIZON

BALTIMORE CITY BOARD OF SCHOOL COMMISSIONERS (MARYLAND): $60.825 million series 2010 city schools qualified school construction revenue bonds (Aa1/AA+/); negotiated; Barclays Capital Inc. (lead); Loop Capital Markets LLC, Morgan Keegan & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-managers); bonds due Dec. 15, 2025; proceeds to construct, repair and rehabilitate school facilities, as well as acquire land for new school construction.

CHICAGO/CHICAGO O'HARE INTERNATIONAL AIRPORT: $998.855 million series 2011 passenger facility charge revenue bonds; negotiated; Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC (lead); Barclays Capital Inc.; Estrada Hinojosa & Co. Inc.; Jackson Securities Inc.; Jefferies & Co.; Melvin & Co.; Morgan Keegan & Co. Inc.; PNC Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; and Toussaint Capital Partners LLC (co-managers); proceeds to make capital improvements at the airport, refund grant anticipation bonds and commercial paper notes and make debt service payments.

• $417.04 million series 2011A passenger facility charge non-AMT revenue bonds

• $43.58 million series 2011B passenger facility charge non-AMT revenue refunding bonds

• $127.065 million series 2011C passenger facility charge AMT revenue refunding bonds

• $411.17 million series 2011A grant receipts and subordinate-lien passenger facility charge revenue bonds

DEVELOPMENT AUTHORITY OF FULTON COUNTY/GEORGIA TECH ATHLETIC ASSOCIATION (GEORGIA): $97.9 million series 2011 revenue bonds (A1//A+); negotiated; Bank of America Merrill Lynch (lead); bonds due 2011 to 2031 with term bonds due 2036 and 2041; proceeds to finance improvements to Georgia Tech facilities, including renovations to its basketball arena, construction of an indoor football practice facility and other improvements, as well as refund association's series 2008A bonds.

DISTRICT OF COLUMBIA: $81.7 million series 2011 federal highway grant anticipation bonds (Aa2/AA/); negotiated; Barclays Capital Inc. and Ramirez & Co. Inc. (lead); Cabrera Capital Markets LLC, J.P. Morgan Securities LLC, M.R. Beal & Co. Inc. and TD Securities (USA) LLC; proceeds to fund highway improvements ahead of the receipt of federal highway grants.

DOUGLAS COUNTY (GEORGIA): $97.01 million series 2011 general obligation sales tax bonds (Aa2/AA-/); negotiated; Citigroup Global Markets Inc. and SunTrust Robinson Humphrey (lead); bonds due 2011 to 2016; proceeds to construct, equip and acquire a jail and related law enforcement facilities.

FARGO/SANFORD HEALTH (NORTH DAKOTA): $134.18 million series 2011 health system revenue bonds (A1/AA-/); negotiated; Cain Brothers (sole); bonds due 2011 to 2021 with term bond due 2031; proceeds to refund Sanford Health's series 1996A, 2000A and 2002A bonds.

GREATER ORLANDO AVIATION AUTHORITY (FLORIDA): $90 million series 2010 airport facilities refunding revenue bonds (Aa3/A+/AA-); negotiated; Loop Capital Markets LLC (lead); Bank of America Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (co-managers); 2010C bonds due 2019 to 2028; 2010D bonds due 2011 to 2018; proceeds to refund authority's series 1999A-B bonds.

• $75 million series 2010C AMT bonds

• $15 million series 2010D non-AMT bonds

GROSSMONT HEALTHCARE DISTRICT (CALIFORNIA): $136.86 million election of 2006, series 2011 general obligation bonds (Aa2); negotiated; Goldman, Sachs & Co. (lead); bonds due 2016 to 2031 with term bonds due 2034 and 2040; proceeds to continue capital projects including the completion of hospital tower renovations, a central energy plant, a diagnostic and treatment center and a health occupations training center.

HARRIS COUNTY INDUSTRIAL DEVELOPMENT CORP./DEER PARK REFINANCING LPP (TEXAS): $125 million series 2010 revenue bonds (A2/A/); negotiated; J.P. Morgan Securities LLC (lead); Citigroup Global Markets Inc. and Mitsubishi UFJ Securities (co-managers); Dec. 1, 2020; proceeds to purchase equipment to recover flare gas and finance capital projects to reduce flare at the refinery's Houston facility.

HOSPITALS AND HIGHER EDUCATION FACILITIES AUTHORITY OF PHILADELPHIA/CHILDREN'S HOSPITAL OF PHILADELPHIA: $200 million series 2011A hospital revenue bonds (Aa2/AA/); negotiated; J.P. Morgan Securities LLC (lead); Goldman, Sachs & Co. and Wells Fargo Securities LLC (co-managers); proceeds to construct a five-story ambulatory care center at the hospital, as well as make other repairs, renovations and expansions to the hospital.

HOSPITAL AUTHORITY OF VIGO COUNTY/UNION HOSPITAL INC. (INDIANA): $54.52 million series 2011 hospital revenue bonds; negotiated; Raymond James & Associates Inc. (lead); proceeds to renovate and expand hospital's West Building and refund existing debt.

IMPERIAL IRRIGATION DISTRICT (CALIFORNIA): $250 million series 2010B Build America Bonds electric system revenue certificates of participation (A1/AA-/); negotiated; Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead); Barclays Capital Inc. and De La Rosa & Co. (co-managers); certificates due 2018 to 2040; proceeds to finance the El Centro Unit 3 Repower Project, which will provide an additional 100 megawatts of generation capacity to the El Centro Generating Station.

INDUSTRIAL DEVELOPMENT CORP. OF THE PORT OF BELLINGHAM (WASHINGTON)/BP WEST COAST LLC: $111 million series 2010 environmental facilities industrial revenue bonds; negotiated; Goldman, Sachs & Co.; proceeds to construct sewage treatment and solid waste disposal facilities at BP's Cherry Point Refinery in Whatcom County, Wash.

LANCASTER COUNTY HOSPITAL AUTHORITY/LANCASTER GENERAL HOSPITAL (PENNSYLVANIA): $75 million series 2011 health system revenue bonds (Aa3/AA-/); negotiated; Bank of America Merrill Lynch and RBC Capital Markets LLC (lead); Wells Fargo Securities LLC and Janney Montgomery Scott LLC (co-managers); proceeds to construct, add, expand and improve the hospital laboratory facilities and its angiography suite, as well as refund its series 1998 and 2008 bonds.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/TUFTS UNIVERSITY: $50.52 million series 2011P revenue bonds (Aa2/AA-/); negotiated; Barclays Capital Inc. and J.P. Morgan Securities LLC (lead); bonds due Feb. 15, 2036; proceeds to refund university's outstanding series 2001I revenue bonds.

METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER CHICAGO (ILLINOIS): $500 million series 2010 general obligation capital improvement bonds (Aaa/AAA/AAA); negotiated; J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead); Bank of America Merrill Lynch, Barclays Capital Inc., Duncan-Williams Inc., Loop Capital Markets LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and William Blair & Co. Inc. (co-managers); 2010A bonds due 2012 to 2014; 2010B bonds due 2015 to 2018; 2010C bonds due 2019 to 2025 with a term bond due 2032; proceeds to construct, remodel, rehabilitate and repair water facilities, flood protection controls and pollution measures.

• $30 million series 2010A taxable bonds

• $70 million series 2010B tax-exempt bonds

• $400 million series 2010C Build America Bonds

PROMEDICA HEALTHCARE OBLIGATED GROUP/LUCAS COUNTY, OHIO/LENAWEE COUNTY HOSPITAL FINANCE AUTHORITY (MICHIGAN): $270.655 million series 2011A-B revenue and revenue refunding bonds (Aa3/AA-/); negotiated; Barclays Capital Inc. and Wells Fargo Securities LLC (lead); 2011A bonds due 2012 to 2022 with term bonds due 2025, 2040 and 2045; 2011B bonds due 2012 to 2019 with term bonds due 2030 and 2035; proceeds to construct 51,000 square-foot replacement hospital for Toledo Hospital, complete a 75,000 square-foot orthopedic center at the Wildwood Medical Center and make other renovations to Promedica facilities.

• $249.16 million series 2011A hospital revenue bonds

• $21.495 million series 2011B hospital revenue

RALEIGH (NORTH CAROLINA): $114.515 million series 2011 combined enterprise system revenue bonds (Aa1/AAA/AAA); negotiated; Citigroup Global Markets Inc. (lead); Baird & Co. and Stephens Inc. (co-managers); bonds due 2014 to 2031 with term bond due March 1, 2040; proceeds to finance improvements to city's water and sanitary sewer systems.

SPECIAL CARE FACILITIES FINANCING AUTHORITY OF THE CITY OF PELL/NOLAND HEALTH SERVICES INC. (ALABAMA): $92.98 million series 2010A revenue bonds (/A-/); negotiated; RBC Capital Markets Corp. (lead); bonds due 2011 to 2020 with term bonds due 2025, 2030 and 2039; proceeds to finance capital improvements to Noland Health facilities, as well as advanced refund authority's series 2007A and refund its series 2009A bonds.

TOHOPEKALIGA WATER AUTHORITY (FLORIDA): $99.58 million series 2010A utility system revenue refunding bonds (Aa3/AA+/); negotiated; FirstSouthwest Co. (lead); proceeds to refund authority's series 2007 bonds and terminate a swap agreement connected to those bonds.

UNIVERSITY OF MINNESOTA: $338.555 million series 2011A general obligation bonds; negotiated; Barclays Capital Inc. (lead); proceeds to purchase and improve land and buildings, construct and equip campus facilities and make other campus improvements.

WACO EDUCATION FINANCE CORP./BAYLOR UNIVERSITY (TEXAS): $103.85 million series 2010 tax-exempt revenue and refunding bonds (/AA-/AA-); negotiated; Barclays Capital Inc. and Bank of America Merrill Lynch (lead); bonds due 2011 to 2025 with term bonds due 2032 and 2040; proceeds to finance construction of a new athletic-academic complex on Baylor campus, acquire real property for university, refund university's series 2008B bonds and refinance series A commercial paper.

WEST SHORE AREA AUTHORITY/HOLY SPIRIT HOSPITAL OF THE SISTERS OF CHRISTIAN CHARITY (PENNSYLVANIA): $58.415 million series 2011 hospital revenue bonds (/BBB+/BBB+); negotiated; Bank of America Merrill Lynch (lead); Janney Montgomery Scott LLC, RBC Capital Markets Corp. and PNC Capital Markets; proceeds to construct and acquire capital projects and refund existing debt.

WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/PROHEALTH CARE INC.: $73.97 million series 2011 revenue refunding bonds (A1/A+/); negotiated; Piper Jaffray & Co. and J.P. Morgan Securities LLC (lead); proceeds to be lent to Waukesha Memorial Hospital and Oconomowoc Memorial Hospital to refund series 1995A, 1999 and 2001 revenue bonds.

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