Municipals Calendar: Philadelphia readies airport revenue bond deal

Week of December 5

METROPOLITAN ST. LOUIS SEWER DISTRICT (MISSOURI): $52.25 million series 2011 wastewater revenue bonds (Aa1/AAA/AA+); competitive; Public Financial Management Inc. and ButcherMark Financial Advisors LLC (financial advisers); bonds due 2013 to 2032; proceeds to construct, repair, replace and install wastewater facilities in the metropolitan St. Louis area; pricing week of Dec. 5.

NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY: $104.155 million series 2011 single-family housing mortgage revenue bonds (Aa1); negotiated; Bank of America Merrill Lynch (lead); proceeds to fund single-family housing mortgage loans and refund series 2000BB and 2000CC single-family housing mortgage revenue bonds; pricing week of Dec. 5.

• $73.09 million series 2011B bonds

• $9.015 million series 2011C bonds

• $22.05 million series 2011D bonds

PHILADELPHIA: $236.995 million series 2011 airport revenue refunding bonds (A2/A+/A); negotiated; RBC Capital Markets LLC and Loop Capital Markets LLC (lead); J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (co-managers); proceeds to refund all or a portion of the city's series 2001B airport revenue bonds and a portion of its international terminal bonds; pricing week of Dec. 5.

• $180.27 million series 2011A AMT bonds

• $23.885 million series 2011B AMT bonds

• $27.895 million series 2011C taxable bonds

• $4.945 million series 2011D taxable bonds

SNOHOMISH SCHOOL DISTRICT (WASHINGTON): $67 million series 2011 unlimited tax general obligation bonds; negotiated; Piper Jaffray & Co. Inc. (lead); proceeds to construct, equip, acquire and renovate school facilities within the district; pricing week of Dec. 5.

Week of December 12

December 13

EMPIRE STATE DEVELOPMENT CORP. (NEW YORK): $709.295 million series 2011 state personal income tax revenue bonds; competitive; Public Financial Management Inc. (financial adviser); proceeds to fund state-supported activities, economic development projects and other projects related to state facilities; pricing Dec. 13.

• $551.9 million series 2011A bonds due 2012 to 2041

• $157.395 million series 2011B bonds due 2012 to 2021

PARTNERS HEALTH CARE SYSTEM (MASSACHUSETTS): $250 million series 2011 taxable bonds (Aa2/AA/AA); negotiated; J.P. Morgan Securities LLC and Barclays Capital Inc. (lead); bonds due July 1, 2021; proceeds for general corporate purposes; pricing Dec. 13.

UNIVERSITY OF ILLINOIS: $52.18 million series 2011C auxiliary facilities refunding revenue bonds (Aa2/AA-/); competitive; Public Financial Management Inc. (financial adviser); proceeds to refund certain outstanding auxiliary facilities revenue bonds issued by the university; pricing Dec. 13.

Day to Day

FLORIDA: $53.89 million series 2011A capital outlay refunding bonds (Aa1/AAA/AAA); competitive; bonds due 2013 to 2023 proceeds to refund state's series 2002B and 2003A capital outlay bonds; pricing day to day.

ORANGE COUNTY SCHOOL BOARD (FLORIDA): $62.09 million series 2012A refunding certificates of participation (Aa3/AA-/AA); negotiated; Citigroup Global Markets Inc. (lead); proceeds to refund board's series 2001A certificates of participation for a debt service savings; pricing day to day.

On the Horizon

CONNECTICUT HOUSING FINANCE AUTHORITY: $112.8 million series 2011E housing mortgage finance program bonds; negotiated; Bank of America Merrill Lynch and Goldman, Sachs & Co. (lead for 2011E-1 and 2011E-2); Morgan Stanley & Co. LLC (sole underwriter for 2011E-3); J.P. Morgan Securities LLC (sole underwriter for 2011E-4); Barclays Capital Inc.; Citigroup Global Markets Inc.; Grigsby & Associates Inc.; Janney Montgomery Scott LLC; Jefferies & Co.; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; and Wells Fargo Securities LLC (co-managers for 2011E-1 and 2011E-2 bonds); proceeds to refund existing debt and fund mortgage loans.

• $25 million series 2011E-1 bonds due 2012 to 2017 with term bond due in 2031

• $15.8 million series 2011E-2 bonds due Nov. 15, 2041

• $52 million series 2011E-3 bonds due Nov. 15, 2041

• $20 million series 2011E-4 bonds due Nov. 15, 2031

CONNECTICUT HOUSING FINANCE AUTHORITY: $66.98 million series 2011F housing mortgage program bonds; negotiated; Bank of America Merrill Lynch; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; and Morgan Stanley & Co. LLC (lead for 2011F-1 and 2011F-2); Citigroup Global Markets Inc. (sole underwriter for 2011F-3); Barclays Capital Inc.; Grigsby & Associates Inc.; Janney Montgomery Scott LLC; Jefferies & Co.; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; and Wells Fargo Securities LLC (co-managers for 2011F-1 and 2011F-2 bonds); proceeds to refund debt and make mortgage loans.

• $34.81 million series 2011F-1 bonds due 2012 to 2021 with term bonds due in 2026, 2031, 2041 and 2053

• $1.91 million series 2011F-2 bonds due Nov. 15, 2031

• $30.26 million series 2011F-3 bonds due Nov. 15, 2041

DALLAS INDEPENDENT SCHOOL DISTRICT (TEXAS): $204.925 million series 2011 unlimited tax refunding bonds; negotiated; RBC Capital Markets LLC (lead); Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Ramirez & Co. Inc. and Southwest Securities Inc. (co-managers); bonds due 2012 to 2028; proceeds to refund a portion of the district's series 2002 unlimited tax school building and refunding bonds and series 2004 unlimited tax school building bonds.

DETROIT (MICHIGAN): $493.375 million series 2011 senior lien water supply system revenue bonds; negotiated; Siebert Brandford Shank & Co. LLC and J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch, BMO Capital Markets LLC, Loop Capital Markets LLC and Morgan Stanley & Co. LLC (co-managers); proceeds to fund capital improvements to the city's water supply system and terminate the entire existing interest rate swap portfolio of the water system.

• $481.97 million series 2011A tax-exempt bonds (A1/A+)

• $11.405 million series 2011B taxable bonds (A2/A)

DISTRICT OF COLUMBIA: $410.47 million series 2011 income tax secured revenue bonds; negotiated; Wells Fargo Securities LLC (lead); Barclays Capital Inc.; Loop Capital Markets LLC; Bank of America Merrill Lynch; J.P. Morgan Securities LLC; M.R. Beal & Co. Inc.; Rice Financial Products Co.; RBC Capital Markets LLC; and TD Securities (USA) LLC (co-managers); proceeds to pay for or reimburse the city for the costs of capital projects.

• $200 million series 2011F bonds due 2012 to 2026 with term bond due in 2036

• $210.47 million series 2011G bonds due 2026 to 2035

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/MANHATTAN COLLEGE: $55 million (maximum); negotiated; proceeds to construct a student commons building and refund the college's series 2000 insured revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/MEMORIAL SLOAN-KETTERING CANCER CENTER: $340 million fixed- or variable-rate tax-exempt bonds; negotiated; Goldman, Sachs & Co. (lead); proceeds to refund cancer center's series 2003-1 revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/ROCKEFELLER UNIVERSITY: $90 million (maximum); negotiated; J.P. Morgan Securities LLC (lead); proceeds to refund university's series 1998 and 2002A-1 revenue bonds.

GALLIA COUNTY/HOLZER HEALTH SYSTEM OBLIGATED GROUP (OHIO): $172.7 million series 2011 hospital facilities revenue refunding bonds; negotiated; RBC Capital Markets LLC (lead); proceeds to acquire, construct, equip and renovate Holzer Health facilities, as well as refund series 1998 and 2005 revenue refunding bonds, a commercial loan and promissory notes.

MARYLAND STADIUM AUTHORITY: $102.03 million series 2011 sports facility lease revenue refunding bonds (Aa2/AA+/AA); negotiated; Barclays Capital Inc. (lead); Bank of America Merrill Lynch; Goldman, Sachs & Co.; PNC Capital Markets LLC; and Wells Fargo Securities LLC (co-managers); bonds due 2012 to 2019; proceeds to refund the authority's series 2002 sports facility lease revenue bonds and terminate a swap agreement connected to the bonds.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/PARTNERS HEALTH CARE SYSTEM INC.: $330 million series 2012L revenue bonds (Aa2/AA/AA); negotiated; J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch, Barclays Capital Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC; bonds due 2014 to 2026 with term bonds due in 2031, 2036 and 2041; proceeds to construct a 379,000 square-foot hospital in Charlestown, Mass., to house a 132-bed replacement for the Spaulding Rehabilitation Hospital, the installation of a system-wide revenue management system and acute care documentation management system, the construction of a 360,000 square-foot building at the Brigham & Women's Hospital's main campus in Boston to house research and clinical space for the hospital's neuroscience and musculoskeletal programs, to construct a 400-space parking garage beneath Brigham's Boston campus, to acquire a building in Boston to house research and administrative offices and to renovate and equip various other facilities operated by Partners.

MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY: $227.16 million series 2012 project revenue bonds (Aa2/AA/); negotiated; Barclays Capital Inc. and J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch, Fidelity Capital Markets LLC, Jefferies & Co., Morgan Keegan & Co. Inc., Ramirez & Co. Inc. and Wells Fargo Securities LLC; proceeds to fund improvements at Bridgewater State University, Westfield State University, Fitchburg State University, Salem State University and the Massachusetts College of Art and Design.

• $155.16 million series 2012A bonds due 2013 to 2031 with term bonds due in 2036 and 2041

• $72 million series 2012B refunding bonds

MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA: $268.585 million series 2011 revenue bonds; negotiated; Goldman, Sachs & Co. (lead); Barclays Capital Inc., BMO Capital Markets LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, US Bancorp Inc. and Wells Fargo Securities LLC (co-managers); proceeds to fund capital improvements to various projects operated by the authority.

• $121.74 million series three taxable power revenue bonds due 2013 to 2028

• $44.985 million series 2011D taxable project one subordinate bonds due 2014 to 2017 and 2020 to 2021

• $57.36 million series 2011A taxable general power revenue bonds due 2013 to 2028

• $39.5 million series 2011D taxable general resolution projects subordinate bonds due 2018 and 2021

OHIO WATER DEVELOPMENT AUTHORITY: $143.145 million series 2011B water pollution control loan fund refunding revenue bonds (Aaa/AAA/); negotiated; Bank of America Merrill Lynch (lead for 2011B-1 bonds); Morgan Stanley & Co. LLC (lead for 2011B-2 bonds); J.P. Morgan Securities LLC, Goldman, Sachs & Co., Fifth Third Securities Inc. and Rice Financial Products Co. (co-managers); proceeds will be used to refund the authority's series 2004 and 2005B revenue bonds.

• $77.54 million series 2011B-1 tax-exempt bonds due 2015 to 2018

• $65.605 million series 2011B-2 taxable bonds due 2012 to 2015

ORLANDO-ORANGE COUNTY EXPRESSWAY AUTHORITY (FLORIDA): $290 million series 2011A refunding revenue bonds (//A); negotiated; Wells Fargo Securities LLC (lead); Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Raymond James &

Associates Inc., Barclays Capital Inc., Goldman, Sachs & Co., Morgan Stanley & Co. Inc. and RBC Capital Markets LLC (co-managers); proceeds to refund authority's series 2008B-1 and 2008B-2 bonds.

PUERTO RICO GOVERNMENT DEVELOPMENT BANK: series 2011G senior notes; negotiated; J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch; Barclays Capital Inc.; Citigroup Global Markets; Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; RBC Capital Markets LLC; Ramirez & Co. Inc.; Wells Fargo Securities LLC; BBVAPR MSD; FirstBank Puerto Rico Securities Inc.; Santander Securities Inc.; Scotia MSD; and UBS Financial Services Puerto Rico (co-managers); proceeds for general corporate purposes, including expanding the bank's investment portfolio and making loans to and purchasing obligations from government entities within the commonwealth.

PUERTO RICO INFRASTRUCTURE FINANCING AUTHORITY: $568.215 million series 2011 Ports Authority project revenue bonds (Baa1/BBB/); negotiated; Wells Fargo Securities LLC and RBC Capital Markets LLC (lead); Barclays Capital Inc.; Bank of America Merrill Lynch; BMO Capital Markets LLC; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; Jefferies & Co.; J.P. Morgan Securities LLC; Morgan Stanley & Co. LLC; Ramirez & Co. Inc.; Raymond James & Associates Inc.; UBS Financial Services Puerto Rico; BBVAPR MSD; FirstBank Puerto Rico Securities; Oriental Financial Services; Popular Securities; Santander Securities; Scotia MSD; and VAB Financial (co-managers); proceeds will be used to pay certain amounts owed to the Puerto Rico Electric Power Authority by the Ports Authority, to repay loans and lines of credit issued by the Government Development Bank, to repay commercial loans and to terminate swap agreements connected to those loans.

• $238.205 million series 2011A taxable bonds

• $163.54 million series 2011B tax-exempt bonds

• $121.47 million series 2011C tax-exempt bonds

PUERTO RICO SALES TAX FINANCING CORP.: $81 million series 2011D sales tax revenue bonds; negotiated; Santander Securities (lead); Bank of America Merrill Lynch; Popular Securities; UBS FS Puerto Rico; Barclays Capital Inc.; BBVAPR MSD; Citigroup Global Markets Inc.; FirstBank Puerto Rico Securities; Oriental Financial Services; Ramirez & Co. Inc.; Raymond James & Associates Inc.; and Scotia MSD (co-managers); proceeds to redeem or repay prior to maturity certain 2006 appropriation debt.

SONOMA-MARIN AREA RAIL TRANSIT DISTRICT (CALIFORNIA): $190.145 million series 2011A Measure Q sales tax revenue bonds; negotiated; Barclays Capital Inc. (lead); bonds due March 1, 2029; initially bear interest at term rate; initial period mandatory tender on Jan. 10, 2013; proceeds to fund construction of a passenger rail system and adjacent multiuse pathway from Santa Rosa, Calif., to San Rafael, Calif.

VIRGINIA HOUSING DEVELOPMENT AUTHORITY: $156.115 million series 2011E taxable rental housing bonds (Aa1/AA+/); negotiated; Morgan Keegan & Co. Inc. (underwriter); bonds due 2013 to 2024 with term bond due in 2028; proceeds to redeem existing rental housing bonds and purchase multifamily housing bonds.

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