Municipal Calendar: Energy Northwest organizes $646.5 million bond offering

Week of April 7

April 8

CLARK COUNTY SCHOOL DISTRICT (NEVADA): $200.85 million series 2014 limited tax general obligation refunding bonds (A1/AA-/); competitive; Zions Bank Public Finance (financial adviser); proceeds to current refund the district's series 2004A G.O. bonds and advance refund its series 2004D G.O. bonds; pricing April 8.

• $136,345,000 series 2014A bonds due 2015 to 2020

• $64,505,000 series 2014B bonds due 2015 to 2020

ENERGY NORTHWEST (WASHINGTON): $646.5 million series 2014 electric revenue and refunding bonds (Aa1/AA-/AA); negotiated; J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co. and BofA Merrill Lynch (underwriters); proceeds to finance capital improvements to the Columbia Generating Station and to refund the corporation's series 2004A, 2004C, 2007A, 2008A, 2009A-B and 2011A revenue bonds; pricing April 8.

• $529.8 million series 2014A Columbia Generating Station electric revenue and refunding bonds due 2016 to 2034 with term bond due in 2040

• $26,015,000 series 2014A project 3 electric revenue refunding bonds due 2015

• $90,685,000 series 2014B Columbia Generating Station taxable revenue and refunding bonds due 2015 to 2018 and 2030 to 2032 with term bond due in 2040

METROPOLITAN TRANSIT AUTHORITY OF HARRIS COUNTY (TEXAS): $133,265,000 series 2014 sales and use tax contractual obligation (Aa2/AA+/); negotiated; Wells Fargo Securities LLC (lead); Cabrera Capital Markets LLC, Mischler Financial Group, Siebert Brandford Shank & Co. LLC and Citigroup Global Markets Inc. (co-managers); bonds due 2015 to 2029; proceeds to acquire and reimburse the authority for the acquisition of personal property, including clean diesel transit and commuter buses and light rail vehicles; pricing April 8.

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY: $760 million series 2014D future tax secured subordinate bonds; negotiated (for 2014D-1); BofA Merrill Lynch (lead); Barclays, Loop Capital Markets LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-senior managers); Citigroup Global Markets Inc., Oppenheimer & Co. Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Fidelity Capital Markets LLC, Ramirez & Co. Inc., Rice Financial Products Co., Southwest Securities Inc., Jefferies & Co., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc., BNY Mellon Capital Markets LLC, Sterne, Agee & Leach Inc., Estrada Hinojosa & Co. Inc., U.S. Bancorp Investments Inc., Prager & Co. LLC; and The Williams Capital Group LP.; competitive (for 2014D-2); proceeds to finance general city capital expenditures; pricing April 8.

• $650 million series 2014D-1 tax-exempt bonds due 2016 to 2041

• $110 million series 2014D-2 taxable bonds due 2018 to 2026

UNIVERSITY OF CONNECTICUT: $220 million series 2014 general obligation bonds (Aa3/AA/AA-); negotiated; Wells Fargo Bank N.A. (lead); Jefferies & Co.; Piper Jaffray & Co.; J.P. Morgan Securities LLC; BofA Merrill Lynch; Blaylock Beal Van LLC; Cabrera Capital Markets LLC; Estrada Hinojosa & Co. Inc.; Fidelity Capital Markets LLC; Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; Ramirez & Co. LLC; Raymond James/Morgan Keegan; RBC Capital Markets LLC; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; and U.S. Bancorp Investments Inc. (co-managers); proceeds to finance capital improvements at the university and to refund existing G.O. debt; pricing April 8.

• $120 million series 2014A G.O. bonds due 2015 to 2034

• $100 million series 2014B G.O. refunding bonds due 2015 to 2025

VIRGINIA BEACH (VIRGINIA): $89,545,000 series 2014A general obligation improvement bonds (Aaa/AAA/AAA); competitive; Public Resources Advisory Group (financial adviser); bonds due 2015 to 2034; proceeds to finance city and public school improvements; pricing April 8.

April 9

MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY: $83.93 million series 2014A non-AMT rental housing revenue bonds; negotiated; BofA Merrill Lynch and J.P. Morgan Securities LLC (lead); Barclays and Morgan Stanley & Co. LLC (co-managers); bonds due 2015 to 2024 with term bonds due in 2029, 2034, 2039, 2044 and 2050; proceeds to finance recently originated mortgage loans to construct and rehabilitate rental housing developments; pricing April 9.

April 10

CALIFORNIA STATE PUBLIC WORKS BOARD: $423 million series 2014 lease revenue bonds (A2/A-/A-); negotiated; Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. (joint senior managers); Lebenthal & Co. LLC (co-senior manager); Alamo Capital, Barclays, BMO Capital Markets LLC, Cabrera Capital Markets LLC, Fidelity Capital Markets LLC, First Southwest Co., Great Pacific Securities Inc., J.P. Morgan Securities LLC, Mischler Financial Group, O'Connor & Co. Securities, RBC Capital Markets LLC, RH Investment Corp., SL Hare Capital Inc. and Wedbush Securities Inc. (co-managers); proceeds to finance the construction and improvement of the courthouse and the prison; pricing April 10.

• $265 million series 2014B Judicial Council of California bonds for New Stockton Courthouse

• $158 million series 2014C Department of Corrections and Rehabilitation bonds for North Kern State Prison

ILLINOIS: $250 million series of April 2014 general obligation bonds; competitive; Public Resources Advisory Group (financial adviser); bonds due 2015 to 2039; proceeds to finance transportation capital projects; pricing April 10.

Week of April 14

April 15

JORDAN SCHOOL DISTRICT (UTAH): $106.8 million series 2014 general obligation refunding bonds (Aaa//AAA); competitive; bonds due 2015 to 2022; proceeds to refund existing G.O. bonds; pricing April 15.

On the Horizon

EL PASO (TEXAS): $100.38 million series 2014 general obligation improvement and refunding bonds (/AA/AA); negotiated; Barclays (lead); Raymond James/Morgan Keegan and RBC Capital Markets LLC (co-managers); bonds due 2015 to 2039; proceeds to finance improvements to the city's parks and recreation facilities, as well as to refund the city's series 2005 G.O. refunding bonds.

INLAND VALLEY DEVELOPMENT SUCCESSOR AGENCY (CALIFORNIA): $270 million series 2014 tax allocation refunding bonds (/A-/); negotiated; Barclays (lead); proceeds to repay outstanding loans and refund the agency's series 2011B-C bonds.

• Series 2014A tax-exempt bonds

• Series 2014B taxable bonds

LOUISIANA: $121.25 million series 2014A Libor index gasoline and fuels tax second lien revenue refunding bonds (Aa2/AA/AA-); negotiated; Raymond James/Morgan Keegan, Jefferies & Co. and RBC Capital Markets LLC (lead); bonds due May 1, 2043; proceeds to refund existing debt initially used to finance highway and bridge construction projects.

METROPOLITAN TRANSPORTATION AUTHORITY (NEW YORK): $500 million series 2014B transportation revenue bonds; negotiated; Wells Fargo Securities LLC and CastleOak Securities LP (lead); BofA Merrill Lynch; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Ramirez & Co. Inc.; RBC Capital Markets LLC; Siebert Brandford Shank & Co. LLC; Barclays; BNY Mellon Capital Markets; Cabrera Capital Markets LLC; Duncan-Williams Inc.; Estrada Hinojosa & Co. Inc.; Fidelity Capital Markets Inc.; Janney Montgomery Scott LLC; M&T Securities Inc.; Mesirow Financial Inc.; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; PNC Capital Markets LLC; Raymond James/Morgan Keegan; Rice Financial Products Co.; Roosevelt & Cross Inc.; Stern Brothers & Co.; Stifel, Nicolaus & Co. Inc.; TD Securities (USA) Inc.; U.S. Bancorp Investment Inc.; and The William Capital Group LP (co-managers); proceeds to finance commuter projects.

ONONDAGA CIVIC DEVELOPMENT CORP./ST. JOSEPH HOSPITAL HEALTH CENTER (NEW YORK): $69.67 million series 2014A tax-exempt revenue bonds (Ba2/BB/); negotiated; Jefferies & Co. and M&T Securities Inc. (lead); proceeds to finance the construction of a co-generation plant on the hospital's campus, as well as to install other technology and other improvements.

PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY/SINAI RESIDENCES OF BOCA RATON (FLORIDA): $189,885,000 series 2014 revenue bonds; negotiated; H.J. Sims & Co. (lead); proceeds to fund a loan to Sinai Residences of Boca Raton for capital improvements to the corporation's facilities, as well as to refund existing notes.

• $120,885,000 series 2014A bonds due 2024, 2034 and 2049

• $14 million series 2014B entrance fee principal redemption bonds due 2023

• $55 million series 2014C entrance fee principal redemption bonds due 2021

POLLUTION CONTROL FINANCING AUTHORITY OF GLOUCESTER COUNTY (NEW JERSEY): $66,795,000 series 2014 pollution control revenue refunding bonds; negotiated; Morgan Stanley & Co. LLC (lead); proceeds to refund authority's series 1992 revenue bonds.

• $63.81 million series 2014A AMT revenue refunding bonds

• $2,985,000 series 2014B taxable pollution revenue bonds due Dec. 1, 2019

POLLUTION CONTROL FINANCING AUTHORITY OF SALEM COUNTY (NEW JERSEY): $118,865,000 series 2014 pollution control revenue refunding bonds; negotiated; Morgan Stanley & Co. LLC (lead); proceeds to refund the authority's series 1991 New Jersey Economic Development Authority revenue bonds.

• $113.64 million series 2014A AMT revenue refunding bonds

• $5,225,000 series 2014B taxable pollution control revenue bonds due Dec. 1, 2019

PUBLIC FINANCE AUTHORITY/USA PLACE PARKING FACILITIES LLC (ARIZONA): $103.5 million series 2014 taxable parking revenue bonds; negotiated; KeyBanc Capital Markets LLC (lead); bonds due Feb. 1, 2021; proceeds to construct, equip, acquire and renovate a multilevel parking facility for the USA Place multi-use center anchored by a hotel and conference center in Tempe.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.