Municipal Calendar: Massachusetts organizes $1.12 billion bond deal

Week of June 3

MASSACHUSETTS: $1,115,260,000 series 2013 general obligation bonds (Aa1/AA+/AA+); negotiated; BofA Merrill Lynch (lead); Barclays, Citigroup Global Markets Inc., Jefferies & Co., J.P. Morgan Securities LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC, Fidelity Capital Markets LLC, Mesirow Financial Inc., Morgan Stanley & Co. LLC, M.R. Beal & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan, Siebert Brandford Shank & Co. LLC, Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. (co-managers); proceeds to finance capital projects as part of the commonwealth's five-year plan, as well as to refund existing G.O. debt; pricing week of June 3.

• $640.26 million series 2013B G.O. refunding bonds due 2013 and 2016 to 2025

• $375 million consolidated loan of 2013 series C G.O. bonds due 2039 to 2043

• $100 million consolidated loan of 2013 series D green bonds due 2032

June 3

VENTURA COUNTY (CALIFORNIA): $140 million series 2013-14 tax and revenue anticipation notes (MIG 1/SP-1+/); competitive; Fieldman, Rolapp & Associates Inc. (financial adviser); notes due July 1, 2014; proceeds to finance capital needs for the county ahead of the collection of taxes and revenues; pricing June 3.

June 4

TEXAS A&M UNIVERSITY: $295.01 million series 2013 revenue financing system bonds (/AAA/AA+); competitive; First Southwest Co. (financial adviser); proceeds to current refund the university's series 2002 and 2003A financing system bonds; pricing June 4.

• $39.4 million series 2013A bonds due 2014 to 2022

• $255.61 million series 2013B bonds due 2014 to 2043

June 6

OAKLAND (CALIFORNIA): $78.23 million series 2013-14 tax and revenue anticipation notes (MIG 1/SP-1+/); competitive; Public Resources Advisory Group (financial adviser); notes due June 30, 2014; proceeds to finance general capital requirements for the city ahead of the collection of taxes and revenues; pricing June 6.

Week of June 10

June 11

PALM COAST (FLORIDA): $84,235,000 series 2013 utility system improvement and refunding bonds (/A+/A+); competitive; First Southwest Co. (financial adviser); proceeds to finance improvements to the city's wastewater utility system, as well as to refund its series 2003 utility system revenue bonds; pricing June 11.

On the Horizon

ASCENSION HEALTH ALLIANCE (MISSOURI): $430 million series 2013A taxable bonds (Aa2/AA+/AA+); negotiated; Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers); proceeds for general corporate purposes.

CLAYTON COUNTY WATER AUTHORITY (GEORGIA): $66,685,000 series 2013 water and sewage revenue refunding bonds (Aa2); negotiated; Raymond James/Morgan Keegan (lead); proceeds to refund the authority's series 2003 and 2004 bonds for a $7.1 million net present value savings or 10.6% of refunded principal with no extension of maturities.

• $17,995,000 series 2013A bonds

• $48.69 million series 2013B taxable bonds

CLEVELAND COUNTY EDUCATIONAL FACILITIES AUTHORITY (OKLAHOMA): $67,995,000 series 2013 educational facilities lease revenue bonds; negotiated; D.A. Davidson & Co. (lead); bonds due 2014 to 2018; proceeds to construct two new elementary schools and a new junior high school, as well as to make repairs and improvements to existing school facilities.

COLLIN COUNTY (TEXAS): $56,264,982 series 2013 unlimited tax road and refunding bonds (Aaa/AAA/); negotiated; Citigroup Global Markets Inc. and Estrada Hinojosa & Co. Inc. (lead); proceeds to construct, maintain and operate macadamized, graveled or paved roads and turnpikes in the county, as well as to refund existing debt.

• $40.07 million series 2013A road and refunding bonds due 2014 to 2033

• $16,194,982 series 2013B refunding bonds due 2014 to 2025

FAIRFIELD COUNTY (OHIO)/FAIRFIELD MEDICAL CENTER: $95,115,000 series 2013 hospital facilities revenue refunding and improvement bonds (Baa2); negotiated; PNC Capital Markets LLC (lead); bonds due 2014 to 2023 with term bonds due in 2028, 2033 and 2043; proceeds to finance the construction, improvement, renovation and equipment of hospital facilities for Fairfield Medical, as well as to refund the medical centers series 2003 and 2010 revenue bonds.

HOWARD HUGHES MEDICAL INSTITUTE (MARYLAND): $1.65 billion series 2013A taxable fixed-rate bonds (Aaa/AAA/); negotiated; J.P. Morgan Securities LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); bonds due March 1, 2023; proceeds to fund an account established by the institute to create a reserve for its program spending.

INDIANA BOND BANK: $263.96 million series 2013 taxable school severance funding refunding bonds (/AA+/); negotiated; City Securities Corp. and Raymond James/Morgan Keegan (lead for 2013A); City Securities Corp. (lead for 2013B); proceeds to refund debt.

• $247,535,000 series 2013A bonds due 2013 to 2030

• $16,425,000 series 2013B bonds due 2013 to 2025

IRVINE (CALIFORNIA): $84.1 million series 2013 limited obligation improvement bonds; negotiated; Stifel, Nicolaus & Co. and Piper Jaffray & Co. (lead); bonds due 2014 to 2030; proceeds to refund certain outstanding limited obligation bonds.

LINCOLN (NEBRASKA)/LINCOLN ELECTRIC SYSTEM: $71,115,000 series 2013 revenue and refunding bonds (/AA/AA); negotiated; BofA Merrill Lynch (lead); Ameritas Investment Corp. and Wells Fargo Securities LLC (co-managers); proceeds to refund electric system's series 2005 bonds and commercial paper.

LOS ANGELES (CALIFORNIA): $284,535,000 series 2013 wastewater system revenue bonds (Aa2/AA+/AA+); negotiated; Siebert Brandford Shank & Co. LLC and J.P. Morgan Securities LLC (lead); BofA Merrill Lynch, Cabrera Capital Markets LLC and Jefferies & Co. (co-managers); proceeds to finance the construction and improvement of the city's wastewater system, as well as to refund outstanding commercial paper.

• $146.61 million series 2013A bonds

• $137,925,000 series 2013B refunding bonds

LOS ANGELES COUNTY (CALIFORNIA): $1 billion series 2013-14 tax and revenue anticipation notes; negotiated; Goldman, Sachs & Co. and BofA Merrill Lynch (lead); Cabrera Capital Markets LLC, KeyBanc Capital Markets LLC, M.R. Beal & Co. and Ramirez & Co. (co-managers); proceeds to finance capital needs for the county ahead of the collection of taxes and revenues.

• Series A notes due Feb. 28, 2014

• Series B notes due June 30, 2014

LOS ANGELES COUNTY SANITATION DISTRICTS FINANCING AUTHORITY (CALIFORNIA): $110 million series 2013A capital projects revenue bonds (Aa1/AA+/); negotiated; BofA Merrill Lynch (lead); J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (co-managers); bonds due 2013 to 2021; proceeds to finance the construction, acquisition and installment of sewage treatment facilities, as well as to refund the authority's series 1993 and 2003 revenue bonds.

LOUISIANA STATE BOND COMMISSION/BIONITROGEN LOUISIANA HOLDINGS LLC: $1.25 billion tax-exempt bonds; proceeds to construct five plants in Point Coupee Parish, La., to convert biomass into urea fertilizer.

MASSACHUSETTS HOUSING FINANCE AGENCY: $115 million series 2013B non-AMT housing bonds (Aa3); negotiated; Barclays (lead); proceeds to finance mortgage loans for qualified Massachusetts residents.

METROPOLITAN DISTRICT OF HARTFORD COUNTY (CONNECTICUT): $85 million series 2013A clean water project revenue bonds (Aa2/AA/); negotiated; J.P. Morgan Securities LLC (lead); Estrada Hinojosa & Co. Inc., Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC (co-managers); bonds due 2014 to 2039; proceeds to finance sewer and clean water projects.

METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA: $145.49 million series 2013 water revenue refunding bonds (Aa1/AAA/AA+); negotiated; Goldman, Sachs & Co. (lead for 2013A, 2013C); De La Rosa & Co. Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC and US Bancorp Inc. (co-managers for 2013A, 2013C); J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead for 2013B); proceeds to refund existing water revenue bonds.

• $90.46 million series 2013A bonds due 2013 and 2018 to 2021

• $18.7 million series 2013B taxable bonds due 2018

• $13,505,000 series 2013C-1 bonds due 2027

• $14.02 million series 2013C-2 bonds due 2025

• $8,805,000 series 2013C-3 bonds due 2023

MOON INDUSTRIAL DEVELOPMENT AUTHORITY (PENNSYLVANIA)/BAPTIST HOMES SOCIETY: $143.49 million series 2013 revenue bonds; negotiated; H.J. Sims & Co. (lead); bonds due 2023, 2033 and 2048; proceeds to refund the authority's series 2007 variable-rate Baptist Homes Society revenue bonds.

NORTHAMPTON GENERAL PURPOSE AUTHORITY/ST. LUKE'S HOSPITAL (PENNSYLVANIA): $65 million series 2013 hospital revenue bonds (A3/BBB+/); negotiated; BofA Merrill Lynch (lead); proceeds to finance a 200-bed expansion to the hospital's Anderson, Pa., campus, as well as to make other renovations to St. Luke's facilities.

• $32.5 million series 2013A bonds

• $32.5 million series 2013B variable-rate bonds

REEDY CREEK IMPROVEMENT DISTRICT (FLORIDA): $54,535,000 series 2013-1 utilities revenue refunding bonds (A1/A/A); negotiated; BofA Merrill Lynch (lead); Morgan Stanley & Co. LLC and Loop Capital Markets LLC (co-managers); bonds due 2013 to 2025; proceeds to refund the district's series 2003-1 and series 2005-1 utilities revenue bonds.

SOLANO COUNTY COMMUNITY COLLEGE DISTRICT (CALIFORNIA): $178.92 million series 2013 general obligation bonds (Aa3); negotiated; Citigroup Global Markets Inc. (lead); proceeds to finance the construction and modernization of district facilities, as well as to refund existing debt.

• $16,085,000 series 2013A tax-exempt G.O. refunding bonds

• $42,835,000 series 2013B taxable G.O. refunding bonds

• $100 million election of 2012 series 2013A tax-exempt G.O. bonds

• $20 million election of 2012 series 2013B taxable G.O. bonds

ST. LUCIE COUNTY (FLORIDA): $54,055,000 series 2013 sales tax refunding revenue bonds (A2/A/); negotiated; RBC Capital Markets LLC and Citigroup Global Markets Inc. (lead); proceeds to refund the county's series 2003 revenue bonds.

• $44,895,000 series 2013A bonds due 2013 to 2033

• $9.16 million series 2013B bonds due 2013 to 2025

WESTERN RIVERSIDE WATER AND WASTEWATER FINANCING AUTHORITY (CALIFORNIA): $51.71 million series 2013A local agency revenue refunding bonds (/BBB+/); negotiated; Stifel, Nicolaus & Co. Inc. and Piper Jaffray & Co. (lead); proceeds to purchase local obligations and refund existing debt.

• $49.59 million series 2013A-1 bonds due 2014 to 2035

• $2.12 million series 2013A-2 bonds due Sept. 1, 2037

WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/ASCENSION HEALTH ALLIANCE SENIOR CREDIT GROUP: $600 million series 2013 revenue bonds (Aa2/AA+/AA+); negotiated; Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers); proceeds to refinance debt for Marian Health System, Via Christi Health, Ministry Health Care and St. John Health Care and their affiliates.

• $100 million series 2013A bonds

• $500 million series 2013B bonds

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