Municipal Calendar: California Public Works plans $600 million deal

Week of October 15

CALIFORNIA STATE PUBLIC WORKS BOARD: $600.17 million series 2012 lease revenue bonds (A2/BBB+/BBB+); negotiated; Loop Capital Markets LLC and Stone & Youngberg (lead); Alamo Capital, BNY Mellon Capital Markets LLC, Backstrom McCarley Berry & Co. LLC, Cabrera Capital Markets LLC, City National Securities LLC, Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, Greencoast Capital Partners LLC, J.P. Morgan Securities LLC, Mesirow Financial Inc., Morgan Stanley & Co. LLC, O'Connor & Co. Securities, Oppenheimer & Co. Inc., RBC Capital Markets LLC, SL Hare Capital and Wells Fargo Securities LLC (co-managers); proceeds to construct, equip, acquire and renovate a correctional facility, courthouses, toxic substances treatment plants; renovate the California School for the Deaf in Riverside; and refund existing lease revenue bonds; pricing week of Oct. 15.

• $458.89 million series 2012G various capital projects lease revenue bonds

• $53,485,000 series 2012H Department of Education Riverside Campus projects lease revenue bonds

• $67,195,000 series 2012I Department of Corrections and Rehabilitation California State Prison lease revenue refunding bonds

• $20.6 million series 2012J Department of Public Health Richmond Laboratory project lease revenue refunding bonds

DALLAS AND FORT WORTH (TEXAS)/DALLAS/FORT WORTH INTERNATIONAL AIRPORT: $301.23 million series 2012G joint airport revenue refunding bonds (A1/A+/A+); negotiated; Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. LLC (lead); Citigroup Global Markets Inc. and Cabrera Capital Markets LLC (co-managers); bonds due 2013 to 2015 and 2017 to 2035; proceeds to refund the Dallas/Fort Worth International Airport's series 2002A joint revenue refunding and improvement bonds; pricing week of Oct. 15.

MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA: $250 million series 2012 revenue bonds; negotiated; Bank of America Merrill Lynch (lead); proceeds to refund existing debt and make various system improvements; pricing week of Oct. 15.

• $50 million series 2012B general power revenue bonds (A1//A+)

• $140 million series 2012GG general power revenue bonds (A1//A+)

• $5 million series 2012C general resolution projects subordinate bonds (A2//A+)

• $50 million series 2012C project one subordinate bonds (A2//A+)

NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY/WILLIAM PATERSON UNIVERSITY: $53,805,000 series 0212 revenue and refunding bonds (A1//AA-); competitive; Phoenix Advisors LLC (financial adviser); proceeds to refund the university's series 2002E and 2004A revenue bonds, as well as to make capital improvements to university facilities; pricing week of Oct. 15.

• $34,795,000 series 2012C revenue bonds due 2013 to 2042

• $19.01 million series 2012D revenue refunding bonds due 2013 to 2028

ORANGE COUNTY SANITATION DISTRICT (CALIFORNIA): $131,715,000 series 2012C revenue refunding certificate anticipation notes (/SP-1+/F1+); competitive; Public Resources Advisory Group (financial adviser); notes due Oct. 30, 2013; proceeds to refund the district's series 2011B revenue refunding certificate anticipation notes; pricing week of Oct. 15.

Week of October 22

October 23

CALIFORNIA: $549.8 million series 2012 various-purpose general obligation refunding bonds (A1/A-/A-); competitive; Public Resources Advisory Group (financial adviser); proceeds to current and advance refund some of the state's general obligation bonds; pricing Oct. 23.

On the Horizon

BAYLOR UNIVERSITY (TEXAS): $200 million series 2012 taxable fixed-rate bonds (/A+/A+); negotiated; Barclays (lead); proceeds to construct, equip, acquire and renovate facilities for the university, as well as to refinance commercial paper notes.

BRIDGEPORT (CONNECTICUT): $71.5 million series 2012B general obligation tax anticipation notes; negotiated; William Blair & Co. (lead); notes due Feb. 12, 2013; proceeds to finance capital needs for the city ahead of the collection of certain taxes.

CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY/CHINESE HOSPITAL ASSOCIATION: $65 million series 2012 revenue bonds (/A-/A-); negotiated; Bank of America Merrill Lynch (lead); bonds due 2016 to 2027 with term bonds due in 2032, 2037 and 2042; proceeds to construct, equip, renovate, acquire, and design a new hospital for the association.

CATHOLIC HEALTH INITIATIVES (COLORADO): $1.5 billion taxable bonds; negotiated; J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); proceeds to finance mergers, acquisitions and joint ventures as CHI creates new partnerships.

CHESAPEAKE (VIRGINIA): $153,028,935 series 2012 Chesapeake transportation system senior toll road revenue bonds (/BBB/BBB); negotiated; Citigroup Global Markets Inc. (lead); J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Davenport & Co. LLC, Piper Jaffray & Co., Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); proceeds to finance the construction, acquisition, design, equipment and renovation of the city's transportation system, as well as to refund the city's series 1999A Chesapeake Expressway toll revenue bonds.

• $100 million series 2012A current interest bonds

• $53,028,935 series 2012B convertible capital appreciation bonds

COVANTA HOLDING CORP. (NEW JERSEY): $300 million tax-exempt refunding bonds; maturities up to 2042; proceeds to finance capital expenditures at the company's facilities in Massachusetts, as well as to refund existing debt.

HONOLULU (HAWAII): $890,355,000 series 2012 general obligation bonds; negotiated; Bank of America Merrill Lynch and Piper Jaffray & Co. (lead); proceeds to finance capital improvements for the city and county, as well as to refund existing G.O.s.

• $249.96 million series 2012A tax-exempt bonds due 2017 to 2037

• $276,135,000 series 2012B tax-exempt bonds due 2016 to 2029

• $27,735,000 series 2012C tax-exempt bonds due 2013 to 2037

• $18.09 million series 2012D taxable bonds due 2017 to 2028

• $75.06 million series 2012E taxable bonds due 2015 to 2017

• $182.59 million series 2012G taxable bonds due 2016 to 2022

INDIANA FINANCE AUTHORITY/COMMUNITY HEALTH NETWORK PROJECT: $381,085,000 series 2012A hospital revenue bonds (A2/A/); negotiated; Wells Fargo Securities LLC (lead); PNC Capital Markets LLC and BMO Capital Markets (co-managers); proceeds to refund the health care network's series 1988A, 1992A, 1993, 1995, 1997 and 2005C bonds.

INDIANA MUNICIPAL POWER AGENCY: $52,425,000 series 2012A power supply revenue refunding bonds (A1/A+/A+); negotiated; Citigroup Global Markets Inc. (lead); BMO Capital Markets LLC, City Securities Corp., J.P. Morgan Securities LLC, PNC Capital Markets LLC and Wells Fargo Securities LLC (co-managers); bonds due 2016 to 2020 and 2024 to 2028; proceeds to refund existing debt.

MIAMI-DADE COUNTY (FLORIDA): $489.19 million series 2012 subordinate special obligation refunding bonds (A2/A+/A+); negotiated; Citigroup Global Markets Inc. (lead); Blaylock Robert Van LLC, M.R. Beal & Co. Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC, Cabrera Capital Markets LLC, Estrada Hinojosa & Co. Inc., Goldman, Sachs & Co., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Southwest Securities Inc. (co-managers); bonds due 2014 to 2015 and 2021 to 2030; proceeds to refund the county's series 1997A-C and 2005A special obligation bonds.

MIAMI UNIVERSITY (OHIO): $121.7 million series 2012 general receipts revenue bonds (Aa3//AA); negotiated; Fifth Third Securities Inc. (lead); Barclays, Morgan Stanley & Co. LLC and Stifel, Nicolaus & Co. Inc. (co-managers); bonds due 2014 to 2032 with term bond due Sept. 1, 2037; proceeds to renovate the university's housing and dining facilities.

MICHIGAN FINANCE AUTHORITY/CRITTENTON HOSPITAL MEDICAL CENTER: $108,805,000 series 2012A hospital revenue and refunding bonds (Baa2/A-/); negotiated; J.P. Morgan Securities LLC (lead); bonds due 2013 to 2022 with term bonds due in 2027, 2032, 2037 and 2039; proceeds to finance capital improvements at the medical center's properties, as well as to refund the medical center's series 2002A and 2003A-B revenue bonds.

MISSION HEALTH INC. (NORTH CAROLINA)/MISSION HEALTH COMBINED GROUP: $250 million series 2012 taxable health system revenue bonds (Aa3/AA-/AA-); negotiated; Bank of America Merrill Lynch and Wells Fargo Securities LLC (lead); bonds due Dec. 1, 2042; proceeds to finance capital improvements and equipment purchases for the combined group.

NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY/WAKE FOREST UNIVERSITY: $110 million series 2012 educational facilities revenue bonds (Aa3/AA/); negotiated; Wells Fargo Securities LLC and BB&T Capital Markets LLC (lead); bonds due 2015 to 2033 with term bonds due 2040 and 2042; proceeds to construct and design residence halls, a dining hall and academic buildings, as well as to upgrade the university's heating plant.

NORTH CAROLINA MEDICAL CARE COMMISSION/WAKE FOREST BAPTIST OBLIGATED GROUP: $228.62 million series 2012 health care facilities revenue and refunding bonds (Aa3/AA-/); negotiated; Morgan Stanley & Co. LLC and Goldman, Sachs & Co. (lead); BB&T Capital Markets LLC and J.P. Morgan Securities LLC (co-managers); proceeds to finance capital improvements to Wake Forest facilities and refund debt.

• $114,175,000 series 2012A revenue bonds

• $114,445,000 series 2012B refunding revenue bonds due 2013 to 2027

OKLAHOMA WATER RESOURCES BOARD: $85,315,000 series 2012B revolving fund revenue bonds (Aaa/AAA/AAA); negotiated; Bank of America Merrill Lynch (lead); BOSC Inc., J.P. Morgan Securities LLC and Wells Nelson & Associates LLC (co-managers); bonds due 2014 to 2033; proceeds to make subsidized loans to qualified local governments to make improvements to wastewater treatment facilities.

PHILADELPHIA: $71.17 million series 2012 water and wastewater revenue refunding bonds (A1/A/A+); negotiated; Siebert Brandford Shank & Co. LLC and Ramirez & Co. Inc. (lead); Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (co-managers); bonds due 2013 to 2014 and 2025 to 2028; proceeds to current refund city's series 2001A-B water and wastewater revenue bonds as well as make a deposit to a debt service reserve fund.

SAN ANTONIO (TEXAS): $150 million series 2012 electric and gas systems variable-rate junior-lien revenue refunding bonds (Aa2/AA-/AA+); negotiated; First Southwest Co. (lead for 2012A bonds), Jefferies & Co. (lead for 2012B bonds), Piper Jaffray & Co. (lead for 2012C bonds); bonds due Dec. 1, 2027 proceeds to refinance the city's series 2004 junior-lien revenue bonds.

• $50 million series 2012A bonds

• $50 million series 2012B bonds

• $50 million series 2012C bonds

SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY: $74,715,000 series 2012 homeownership mortgage bonds (Aa1/AAA/); negotiated; Bank of America Merrill Lynch and Citigroup Global Markets Inc. (lead); J.P. Morgan Securities LLC, Dougherty & Co. LLC and Wells Fargo Securities LLC (co-managers); proceeds to make mortgage loans and to refund and redeem the authority's series 2001F, 2003A, 2003B, 2003D and 2003F bonds.

• $41.7 million series 2012D AMT bonds due 2013 to 2022 with term bond due in 2030

• $9,355,000 series 2012E non-AMT bonds due May 1, 2015

• $23.66 million series 2012F non-AMT bonds due 2033, 2037 and 2042

TARRANT REGIONAL WATER DISTRICT (TEXAS): $102.36 million series 2012A water revenue refunding bonds (/AAA/AA+); negotiated; J.P. Morgan Securities LLC (lead); Citigroup Global Markets Inc., M.R. Beal & Co. Inc., RBC Capital Markets LLC and Raymond James/Morgan Keegan (co-managers); bonds due 2013 to 2022; proceeds to refund the district's series 2002 water revenue refunding and improvement bonds.

VIRGINIA COLLEGE BUILDING AUTHORITY/UNIVERSITY OF RICHMOND: $60 million series 2012 educational facilities revenue bonds (Aa1/AA+/); negotiated; Goldman, Sachs & Co. and Raymond James/Morgan Keegan (lead); proceeds to construct and acquire residence halls and a sports field, as well as to renovate student housing, a library and academic buildings.

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