Municipal Calendar: Virginia Housing preps $560 million bond sale

Week of December 10

TRIBOROUGH BRIDGE AND TUNNEL AUTHORITY (NEW YORK): $904.3 million series 2012 revenue bonds; negotiated; Jefferies & Co., Goldman, Sachs & Co. and Loop Capital Markets LLC (lead); Bank of America Merrill Lynch, Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, BB&T Capital Markets LLC, Duncan-Williams Inc., Edward D. Jones & Co. LP, Fidelity Capital Markets Inc., First Southwest Co., M.R. Beal & Co. Inc., Piper Jaffray & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Stifel, Nicolaus & Co. LLC and TD Securities (USA) LLC (co-managers); proceeds to refund authority's series 2002E and 2003A revenue bonds; pricing week of Dec. 10.

• $637,985,000 series 2012C subordinate revenue refunding bonds due 2013 to 2032

• $266,315,000 series 2012D general revenue refunding bonds due 2013 to 2032

December 11

VIRGINIA HOUSING DEVELOPMENT AUTHORITY: $560 million series 2012C commonwealth mortgage bonds (Aaa/VMIG 1/AAA/A-1+/); competitive; proceeds to finance mortgage loans and refund previously issued debt; pricing Dec. 11.

• $90 million series 2012C-STEM I bonds due Jan. 24, 2013

• $80 million series 2012C-STEM II bonds due Feb. 28, 2013

• $80 million series 2012C-STEM III bonds due April 1, 2013

• $310 million series 2012C-STEM IV bonds due May 23, 2013

December 12

CHERRY CREEK SCHOOL DISTRICT NO. 5 (COLORADO): $125 million series 2012B general obligation bonds; competitive; Public Finance Associates LLC (financial adviser); bonds due 2015 to 2032; proceeds to finance capital improvements to schools within the district; pricing Dec. 12.

December 13

PHILADELPHIA (PENNSYLVANIA): $127 million series 2012-13 tax and revenue anticipation notes (MIG 1/SP-1+/); competitive; Public Financial Management Inc. and Acacia Financial Group Inc. (financial adviser); notes due June 28, 2013; proceeds to finance general expenses of the city ahead of the collection of certain taxes and revenues; pricing Dec. 13.

On the Horizon

CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY: $781.39 million series 2012 water furnishing revenue bonds; negotiated; J.P. Morgan Securities LLC and Barclays (lead); Bank of America Merrill Lynch, Goldman, Sachs & Co. and Stone & Youngberg LLC (co-managers); proceeds to construct desalination pipelines.

• $559.85 million series 2012 AMT Poseidon Resources LP desalination project bonds

• $221.54 million series 2012 San Diego County Water Authority desalination project bonds

CARMEL REDEVELOPMENT AUTHORITY (INDIANA): $188,535,000 series 2012 lease rental revenue multipurpose bonds; negotiated; Oppenheimer & Co. Inc. and William Blair & Co. (lead); Mesirow Financial (co-manager); proceeds to acquire the Keystone Avenue right-of-way from the City of Carmel.

CONNECTICUT HOUSING FINANCE AUTHORITY: $79.63 million series 2012G housing mortgage finance program bonds (Aaa/AAA/AAA); negotiated; Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead for 2012G-1 through 2012G-4); Bank of America Merrill Lynch (lead for 2012G-5); Barclays, Goldman, Sachs & Co., Jefferies & Co., Janney Montgomery Scott LLC, M.R. Beal & Co. Inc., Raymond James/Morgan Keegan, Ramirez & Co. Inc., Rice Financial Products Co., Roosevelt & Cross Inc. and Wells Fargo Securities LLC (co-managers for 2012G-1 through 2012G-4); proceeds to finance mortgage loans.

• $44,195,000 series 2012G-1 bonds due 2013 to 2022 with term bonds due in 2027, 2032, 2037, 2042, 2047 and 2055

• $6,015,000 series 2012G-2 bonds due 2022, 2027, 2032, 2037 and 2045

• $5,015,000 series 2012G-3 bonds due 2013 to 2022 with term bond due in 2027

• $8,685,000 series 2012G-4 bonds due Nov. 15, 2030

• $15.72 million series 2012G-5 bonds due May 15, 2041

COOK COUNTY (ILLINOIS): $90 million county road and highway improvement sales tax revenue bonds (//AAA); negotiated; Wells Fargo Securities LLC (lead); proceeds to finance road, bridge and highway infrastructure projects as part of the county's 2012 -2014 highway transportation plan.

EL PASO (TEXAS): $87.43 million series 2012A water and sewer revenue refunding and improvement bonds (/AA/AA+); negotiated; Citigroup Global Markets Inc. (lead); Siebert Brandford Shank & Co. LLC and Southwest Securities Inc. (co-managers); bonds due 2013 to 2033; proceeds to refund the city's series 2003B, 2004 and 2004A revenue bonds and to refund a portion of the city's water and sewer system commercial paper notes, as well as to finance capital improvements to the system.

INDIANA FINANCE AUTHORITY: $113,075,000 series 2012C state revolving fund program bonds (Aaa/AAA/AAA); negotiated; Jefferies & Co. and Goldman, Sachs & Co. (lead); Bank of America Merrill Lynch, J.J.B. Hilliard, W.L. Lyons LLC and Ramirez & Co. (co-managers); bonds due 2020 to 2032; proceeds to finance loans for eligible program recipients.

INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX (ARIZONA)/JMF-HIGLEY 2012 LLC PROJECT: $70.63 million series 2012 education facility revenue bonds; negotiated; Lawson Financial Corp. and Herbert J. Sims & Co. Inc. (lead); bonds due 2013, 2022, 2032, 2042, 2047 and 2052; proceeds to construct two middle schools - one in Gilbert, Ariz., and one in Queen Creek, Ariz.

IOWA FINANCE AUTHORITY/IOWA FERTILIZER CO.: $1,194,000,000 series 2012 Midwestern disaster area revenue bonds (/A-1+/); negotiated; Citigroup Global Markets Inc. (lead); bonds due Dec. 1, 2050; proceeds to finance the construction of a nitrogen fertilizer plant in Lee County, Iowa.

LAFAYETTE (LOUISIANA): $154,845,000 series 2012 utilities revenue refunding bonds (A1/A+/); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2015 to 2028; proceeds to refund city's series 2004 revenue bonds.

MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY/FREDERICK MEMORIAL HOSPITAL: $98,595,000 series 2012A revenue bonds (Baa1//BBB+); negotiated; BB&T Capital Markets and PNC Capital Markets LLC (lead); bonds due 2013 to 2027 with term bonds due in 2035 and 2038; proceeds to relocate the hospital's helipad to the roof, renovate hospital rooms and other facilities and refund the hospital's series 2002 revenue bonds.

METROPOLITAN OPERA (NEW YORK): $100 million series 2012 taxable bonds; negotiated; Bank of America Merrill Lynch and Morgan Stanley & Co. LLC (lead); proceeds to repay debt held by the opera.

NASSAU COUNTY (NEW YORK): $260 million series 2012 general obligation tax anticipation notes (/SP-1+/F1+); negotiated; J.P. Morgan Securities LLC (lead); Morgan Stanley & Co. LLC and Ramirez & Co. Inc. (co-managers); proceeds to finance capital expenditures for the county ahead of the collection of ad valorem taxes.

• $20 million series 2012A notes due April 1, 2013

• $170 million series 2012B notes due Sept. 30, 2013

• $70 million series 2012C notes due Oct. 31, 2013

NEW HAMPSHIRE HIGHER EDUCATION LOAN CORP.: $239,515,000 series 2012-1 Libor floating-rate notes (/AA+(sf)/AAA(sf)); negotiated; RBC Capital Markets LLC (lead); notes due Oct. 25, 2028; proceeds to make student loans to qualified New Hampshire residents.

NEW YORK STATE HOUSING FINANCE AGENCY: $91.5 million series 2012F affordable housing revenue bonds; negotiated; Ramirez & Co. Inc. and J.P. Morgan Securities LLC (lead); Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Raymond James/Morgan Keegan, Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC (co-managers); bonds due 2013 to 2023 with term bonds due in 2015, 2016, 2027, 2032, 2037, 2042 and 2048; proceeds to make five mortgage loans to construct and rehabilitate affordable housing units.

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 MIAMI BEACH (FLORIDA): $65 million series 2012 water revenue refunding bonds (/A+/A+); negotiated; Bank of America Merrill Lynch (lead); Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Raymond James/Morgan Keegan (co-managers); proceeds to refund city's series 2002B water revenue bonds.

OKLAHOMA MUNICIPAL POWER AUTHORITY: $117.91 million series 2013A power supply system revenue bonds (/A/A); negotiated; Bank of America Merrill Lynch (lead); BOSC Inc., J.P. Morgan Securities LLC and RBC Capital Markets LLC (co-managers); bonds due 2028 to 2033 with term bonds due 2038, 2043 and 2047; proceeds to construct a new power generating facility.

ROUTE 460 FUNDING CORP. OF VIRGINIA: $293,412,055 series 2012 toll road senior lien revenue bonds (Baa3/BBB-/); negotiated; Bank of America Merrill Lynch and J.P. Morgan Securities LLC (lead); proceeds to construct a new, 55-mile limited access divided toll road between U.S. Route 460 near the Interstate 295 interchange and U.S. Route 58 in Suffolk, Va.

• $231.65 million series 2012A current interest bonds due 2045 to 2052

• $61,762,055 series 2012B capital appreciation bonds due 2025 to 2045

TAMPA-HILLSBOROUGH COUNTY EXPRESSWAY AUTHORITY (FLORIDA): $454.72 million series 2012 refunding revenue bonds (A3/A-/); negotiated; Bank of America Merrill Lynch and Raymond James/Morgan Keegan (lead); Citigroup Global Markets Inc., Loop Capital Markets LLC and Morgan Stanley & Co. LLC (co-managers); proceeds to finance expressway improvements and refund the authority's series 2002 and 2005 expressway revenue bonds.

• $194.59 million series 2012A bonds due 2027 to 2037

• $146,935,000 series 2012B bonds due 2037 and 2042

• $43,015,000 series 2012C bonds due 2016 to 2022

• $70.18 million series 2012D bonds due 2022 to 2027

TRUST FOR CULTURAL RESOURCES OF THE CITY OF NEW YORK/WILDLIFE CONSERVATION SOCIETY: $112,515,000 series 2012 revenue bonds (Aa3/AA-/); negotiated; Goldman, Sachs & Co. (lead); bonds due 2022 to 2033; proceeds to construct, equip, furnish and acquire Wildlife Conservation Society facilities at the Bronx Zoo and at the New York Aquarium.

UNIVERSITY OF MICHIGAN: $196.94 million series 2012 general revenue bonds (Aaa/AAA/); negotiated; Wells Fargo Securities LLC (lead for 2012E); J.P. Morgan Securities LLC (lead for 2012F); proceeds to refund all of the university medical center's revenue bonds, as well as to refund a portion of its commercial paper notes.

• $95.97 million series 2012E bonds due April 1, 2033

• $100.97 million series 2012F bonds due April 1, 2043

WASHINGTON STATE HOUSING FINANCE COMMISSION: $88,875,000 series 2012 nonprofit housing revenue and revenue refunding bonds; negotiated; Cain Brothers Inc. and BB&T Capital Markets LLC (lead); proceeds to refund debt.

• $74,675,000 series 2012A fixed-rate bonds

• $5 million series 2012B adjustable-rate bonds

• $9.2 million series 2012C temporary fixed-rate bonds

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