Municipal Calendar: Illinois Toll Highway prepares $450 million bond offering

Week of May 5

CARNEGIE INSTITUTION OF WASHINGTON: $50 million series 2014 taxable bonds (Aa1/AA+/); negotiated; Barclays (lead); bonds due July 1, 2054; proceeds for general capital needs and corporate purposes; pricing week of May 5.

HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY (NEW JERSEY): $195 million series 2014-1 student loan revenue bonds (Aa2/AA(sf)/); negotiated; BofA Merrill Lynch (lead); Ramirez & Co. Inc. (co-manager); proceeds to finance student loans to qualified New Jersey students; pricing week of May 5.

• $182 million series 2014-1A senior bonds due 2015 to 2029 and 2032 and 2036 with term bond due in 2030

• $13 million series 2014-1B subordinate bonds due Dec. 1, 2044

ILLINOIS STATE TOLL HIGHWAY AUTHORITY: $450 million series 2014B toll highway senior revenue bonds (Aa3//AA-); negotiated; Citigroup Global Markets Inc. and Barclays (lead); BMO Capital Markets LLC, Ramirez & Co. Inc., Fifth Third Securities Inc., Oppenheimer & Co., Piper Jaffray & Co., Rice Financial Products Co. and Stifel, Nicolaus & Co. (co-managers); bonds due 2026 to 2034 with a term bond due 2039; proceeds to finance capital improvements as part of the authority's $12.1 billion, 15-year capital improvement plan; pricing week of May 5.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/CHILDREN'S HOSPITAL: $140,145,000 series 2014P revenue bonds (Aa2/AA/); negotiated; Goldman, Sachs & Co. (lead); proceeds to finance the improvement of the main building at the hospital's campus, including a pharmacy, surgery, radiology, neuro-imaging and emergency services, as well as to expand research laboratories and support space; pricing week of May 5.

May 7

INLAND VALLEY DEVELOPMENT SUCCESSOR AGENCY (CALIFORNIA): $260 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; pricing May 7.

• Series 2014A tax-exempt bonds

• Series 2014B taxable bonds

MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY/COLBY COLLEGE: $72,175,000 series 2014 revenue bonds (Aa2/AA+/); negotiated; Barclays and Morgan Stanley & Co. LLC (lead); BofA Merrill Lynch; Goldman, Sachs & Co.; Raymond James/Morgan Keegan; and Wells Fargo Securities LLC (co-managers); proceeds to finance capital improvement projects for the college and refund existing debt; pricing May 7.

• $67.51 million series 2014A bonds

• $4,665,000 series 2014B taxable bonds

NEW JERSEY ENVIRONMENTAL INFRASTRUCTURE TRUST: $60.45 million series 2014 environmental infrastructure bonds (Aaa/AAA/AAA); competitive; Public Financial Management Inc. (financial adviser); proceeds to finance loans to local governments for wastewater projects and open space land preservation within the state; pricing May 7.

• $55.01 million series 2014A bonds due 2015 to 2033

• $5.44 million series 2014B AMT bonds due 2015 to 2033

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; pricing May 7.

• $63.81 million series 2014A AMT revenue refunding bonds

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

SAN MATEO COUNTY JOINT POWERS FINANCING AUTHORITY (CALIFORNIA)/MAPLE STREET CORRECTIONAL CENTER: $186.93 million series 2014A lease revenue bonds (Aa2/AA+/); negotiated; Citigroup Global Markets Inc. and Raymond James/Morgan Keegan (lead); Barclays and Siebert Brandford Shank & Co. LLC (co-managers); bonds due 2017 to 2034 with a term bond due in 2038; proceeds to finance the acquisition, construction and equipment of the correctional center, as well as to refund notes issued to reimburse the authority for the costs of the correctional center project; pricing May 7.

May 8

CONNECTICUT HOUSING FINANCE AUTHORITY: $85.33 million series 2014B-1 housing mortgage program financing bonds (Aaa/AAA/); negotiated; Citigroup Global Markets Inc., BofA Merrill Lynch, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); Barclays, Janney Montgomery Scott LLC, Jefferies & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc. and Wells Fargo Securities LLC (co-managers); bonds due 2016 to 2025 with term bonds due in 2029, 2034, 2039 and 2044; proceeds to finance multifamily mortgage loans; pricing May 8.

HARRIS COUNTY FLOOD CONTROL DISTRICT (TEXAS): $195 million series 2014 refunding bonds (Aaa//AAA); negotiated; Jefferies & Co. Inc. and Loop Capital Markets LLC (lead); Baird & Co., BofA Merrill Lynch, Mesirow Financial Inc., Piper Jaffray & Co. and Siebert Brandford Shank & Co. LLC (co-managers); proceeds to refund existing debt; pricing May 8.

• $50 million series 2014 district improvement refunding bonds

• $70 million series 2014A district contract tax refunding bonds

• $75 million series 2014B taxable district contract tax refunding bonds

KANSAS CITY (MISSOURI): $54,365,000 series 2014A water revenue bonds (Aa2/AA+/); competitive; First Southwest Co. Inc. (financial adviser); bonds due 2015 to 2038; proceed to finance additions, extensions and improvements to the city's water system; pricing May 8.

Week of May 12

May 14

UNIVERSITY OF CINCINNATI (OHIO): $92.15 million series 2014B general receipts bonds (Aa3/AA-/); competitive; Public Financial Management Inc. (financial adviser); proceeds to finance the installation of a new student information system, complete a roof replacement, make improvements to the university's teaching college and refund its series 2004A and 2006A general receipts bonds; pricing May 14.

On the Horizon

MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY: $184.8 million series 2014 AMT education loan revenue bonds (/AA(sf)/); negotiated; Morgan Stanley & Co. LLC (lead); BofA Merrill Lynch and J.P. Morgan Securities LLC (co-managers); proceeds to finance education loans.

MIAMI-DADE COUNTY (FLORIDA): $208.13 million series 2014 seaport variable-rate demand revenue bonds; negotiated; Barclays (lead); Cabrera Capital Markets LLC, Jefferies & Co., RBC Capital Markets LLC, Rice Financial Products Co., Blaylock Robert Van LLC, Drexel Hamilton LLC, Estrada Hinojosa & Co. Inc., Loop Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Southwest Securities Inc. and Wells Fargo Securities LLC (co-managers); proceeds to finance seaport improvements; passenger terminal improvements; bulkhead, roadway and bridge improvements; among other capital improvements.

MISSOURI HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/SSM HEALTH CARE: $300 million series 2014 health facilities variable-rate revenue bonds (/A+/A-1/AA-/F1+); negotiated; Citigroup Global Markets Inc. (for 2014B-E bonds), Goldman, Sachs & Co. (for 2014B-C bonds), Wells Fargo Securities LLC (for 2014F-G bonds) and Barclays (for 201G bonds); proceeds to finance capital improvements and restructure existing debt for the health care system.

• $50 million series 2014B bonds due June 1, 2041

• $50 million series 2014C bonds due June 1, 2041

• $50 million series 2014D bonds due June 1, 2044

• $50 million series 2014E bonds due June 1, 2044

• $50 million series 2014F bonds due June 1, 2044

• $50 million series 2014G bonds due June 1, 2044

NASSAU COUNTY LOCAL ECONOMIC ASSISTANCE CORP. (NEW YORK)/CATHOLIC HEALTH SERVICES OF LONG ISLAND: $79.23 million series 2014 revenue bonds (//BBB+); negotiated; Morgan Stanley & Co. LLC and Goldman, Sachs & Co. (lead); proceeds to refund the corporation's series 2004 revenue bonds for St. Francis Hospital.

NEW JERSEY TURNPIKE AUTHORITY: $1 billion series 2014A turnpike revenue bonds (A3/A+/A); negotiated; Goldman, Sachs & Co. (lead); BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Fidelity Capital Markets LLC, Stifel, Nicolaus & Co. Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC (co-managers); bonds due 2027 to 2035; proceeds to make capital improvements to the turnpike system as part of the authority's 10-year program.

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY: $200 million series 2014D adjustable-rate future tax secured tax-exempt subordinate bonds (Aa1/VMIG 1/AAA/A-1/AAA/F1); negotiated; BMO Capital Markets LLC (lead for 2014D-3) and PNC Capital Markets LLC (lead for 2014D-4); proceeds to finance general city capital expenditures.

• $100 million series 2014D-3 bonds due Feb. 1, 2044

• $100 million series 2014D-4 bonds due Feb. 1, 2044

OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT: $87.83 million series 2014 single-family mortgage program mortgage revenue bonds (Aa2); negotiated; J.P. Morgan Securities LLC and BofA Merrill Lynch (lead); Fidelity Capital Markets LLC, Morgan Stanley & Co. LLC, Piper Jaffray & Co. and Wells Fargo Securities LLC (co-managers); proceeds to purchase mortgage loans.

• $57.71 million series 2014A non-AMT bonds due 2019 to 2025 with term bonds due in 2029, 2033 and 2044

• $30.12 million series 2014B AMT bonds due 2015 to 2019 with term bond due in 2044

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.

UNIVERSITY OF MISSOURI: $289,135,000 series 2014A system facilities revenue bonds (Aa1/AA+/); negotiated; Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); Backstrom McCarley Berry & Co. LLC, D.A. Davidson & Co. LLC and Wells Fargo Securities LLC (co-managers); bonds due 2037; proceeds to refund the university's series 2007A bonds and repay commercial paper notes.

WHITE SETTLEMENT INDEPENDENT SCHOOL DISTRICT (TEXAS): $50,317,169.65 series 2014 unlimited tax refunding bonds; negotiated; BOSC Inc. (lead); Baird & Co. and Raymond James/Morgan Keegan (co-managers); bonds due 2015 to 2045; proceeds to refund debt.

© 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.