Municipal Calendar: Los Angeles Unified School District eyes $1.2 billion deal

Week of February 29

CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY/UNIVERSITY OF IRVINE, IRVINE EAST CAMPUS APARTMENTS:

• $286,335,000 series 2016 student housing refunding revenue bonds (Baa1)

• Negotiated

• Barclays and Loop Capital Markets LLC (lead)

• Proceeds to refund the authority’s series 2004, 2006 and 2008 student housing revenue bonds, which were issued to construct student apartments at the University of Irvine

GRAND RAPIDS PUBLIC SCHOOLS (MICHIGAN):

• $134.87 million series 2016 school building and site and refunding bonds

• Negotiated

• Sitfel, Nicolaus & Co. LLC and Fifth Third Securities Inc. (lead)

• Bonds due 2017 to 2041

• Proceeds to construct, equip and improve school buildings in the district, acquire sites for future school facilities and refund existing debt

KENTUCKY PROPERTY AND BUILDINGS COMMISSION:

• $663.45 million series 2016 revenue and refunding bonds (Aa3//A+)

• Negotiated

• Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (lead)

• Raymond James/Morgan Keegan; J.J.B. Hilliard, W.L. Lyons LLC; PNC Capital Markets LLC; First Kentucky Securities Corp.; Fifth Third Securities LLC; FTN Financial Capital Markets; and Ross, Sinclaire & Associates (co-managers)

• Proceeds to construct a new research building for the University of Kentucky, as well as to refund the commission’s project No. 87, 88, 89, 90 and 93 revenue bonds

• $112,805,000 series 2016A project No. 112 revenue bonds due 2017 to 2036

• $550,645,000 series 2016B project No. 112 revenue refunding bonds due 2016 to 2028

LOS ANGELES UNIFIED SCHOOL DISTRICT (CALIFORNIA):

• $1,225,000,000 series 2016 general obligation bonds (Aa2//AAA)

• Negotiated

• Citigroup Global Markets Inc. and Wells Fargo Securities LLC (lead)

• J.P. Morgan Securities LLC, Alamo Capital Inc., Fidelity Capital Markets Inc., Hutchinson Shockey Erley & Co. and Loop Capital Markets LLC (co-managers)

• Proceeds to finance school construction projects and refund existing debt

• $650 million election of 2008 series 2016A general obligation bonds

• $575 million series 2016 general obligation refunding bonds

OHIO STATE UNIVERSITY:

• $630 million series 2016 general receipts bonds (Aa1/AA/AA)

• Negotiated

• Barclays and RBC Capital Markets LLC (lead)

• KeyBanc Capital Markets LLC, Wells Fargo Securities LLC, BofA Merrill Lynch, Goldman Sachs & Co., PNC Capital Markets LLC and U.S. Bancorp Investments Inc. (co-managers)

• Proceeds to improve and construct university facilities and refund the university’s series 2005A general receipts bonds

• $600 million series 2016A taxable bonds

• $30 million series 2016B tax-exempt bonds

ORANGE COUNTY SCHOOL BOARD (FLORIDA):

• $218.87 million series 2016 certificates of participation

• Negotiated

• J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead)

• BofA Merrill Lynch, Jefferies & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)

• Proceeds to refund the board’s series 2008D and 2009A certificates and to refinance a portion of the board’s series 2002A certificates

• $37.04 million series 2016B certificates of participation due 2019 to 2027

• $181.83 million series 2016C certificates of participation due 2020 to 2034

PRINCETON UNIVERSITY (NEW JERSEY):

• $100 million series 2016A taxable bonds (Aaa/AAA)

• Negotiated

• Goldman Sachs & Co. (lead)

• Proceeds for general corporate purposes, including financing and refinance capital projects

RUTGERS UNIVERSITY (NEW JERSEY):

• $161.07 million series 2016M general obligation refunding bonds (Aa3/A+/AA-)

• Negotiated

• Wells Fargo Securities LLC and Morgan Stanley & Co. LLC (lead)

• BofA Merrill Lynch, Citigroup Global Markets Inc., Janney Montgomery Scott LLC and Raymond James/Morgan Keegan (co-managers)

• Bonds due 2020 to 2039

• Proceeds to refund the university’s series 2009F G.O. bonds and repay commercial paper notes

March 2

METROPOLITAN TRANSPORTATION AUTHORITY (NEW YORK):

• $500 million series 2016A dedicated tax fund refunding bonds (/AA/AA)

• Negotiated

• Wells Fargo Securities LLC (lead)

• BofA Merrill Lynch and Goldman, Sachs & Co. (co-senior managers)

• Academy Securities Inc., BNY Mellon Capital Markets LLC, Jefferies & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC and Rice Financial Products Co. (co-managers)

• Proceeds to refund existing bonds

ORANGE COUNTY SANITATION DISTRICT (CALIFORNIA):

• $145.09 million series 2016A wastewater refunding revenue obligations (/AAA)

• Competitive

• Public Resources Advisory Group (financial adviser)

• Bonds due 2020 to 2039

• Proceeds to prepay the district’s series 2009A certificates of participation

SAN DIEGO PUBLIC FACILITIES FINANCING AUTHORITY (CALIFORNIA):

• $401,485,000 series 2016A senior sewer revenue refunding bonds (/AA+/AA)

• Negotiated

• Wells Fargo Securities LLC (lead)

• Academy Securities Inc., BofA Merrill Lynch and Drexel Hamilton LLC (co-managers)

• Bonds due 2016 and 2020 to 2039

• Proceeds to refund the authority’s series 2009A-B and 2010A bonds

March 3

FREMONT UNIFIED SCHOOL DISTRICT (CALIFORNIA):

• $130 million election of 2014 series 2016B general obligation bonds

• Competitive

• Keygent LLC (lead)

• Proceeds to acquire, improve, equip, upgrade and renovate school facilities

MASSACHUSETTS:

• $1,101,335,000 series 2016 general obligation bonds (Aa1/AA+/AA+)

• Negotiated

• BofA Merrill Lynch and Wells Fargo Securities LLC (lead)

• Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays, Fidelity Capital Markets LLC, Loop Capital Markets LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC and Rice Financial Products Co. (co-managers)

• Proceeds to fund capital projects in the state

• $600 million series 2016A consolidated loan general obligation bonds due 2018 to 2038 with term bonds due 2041 and 2046

• $501,335,000 series 2016A general obligation refunding bonds due 2016 to 2033

On The Horizon

ANTELOPE VALLEY HEALTHCARE DISTRICT (CALIFORNIA):

• $140 million series 2016A tax-exempt revenue bonds (Ba3)

• Negotiated

• Lancaster Pollard (lead)

• Proceeds to finance seismic improvements to district facilities and refund existing bonds

BLACK BELT ENERGY GAS DISTRICT (ALABAMA):

• $1 billion series 2016 gas supply revenue bonds

• Negotiated

• RBC Capital Markets LLC (sole)

• Bonds due 2017 to 2021 with term bond due 2046

• Proceeds to make a gas supply purchase

FLORIDA DEVELOPMENT FINANCE CORP.:

• $1.75 billion series 2015A-B All-Aboard Florida Passenger Rail project surface transportation facilities revenue bonds

• Negotiated

• BofA Merrill Lynch (lead)

• Proceeds to finance a commuter rail linking Miami with Orlando International Airport

HAMPTON ROADS SANITATION DISTRICT (VIRGINIA):

• $206,845,000 series 2016A subordinate wastewater revenue bonds (/AA/AA)

• Negotiated

• BofA Merrill Lynch (lead)

• J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC (co-managers)

• Bonds due 2016 to 2043

• Proceeds to finance wastewater capital improvements as part of the district’s capital improvement program

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY:

• $150 million series 2016E-4 adjustable-rate future tax secured subordinate bonds (Aa1/AAA/AAA)

• Negotiated

• J.P. Morgan Securities LLC (lead)

• Bonds due Feb. 1, 2045

• Proceeds to finance city capital expenditures

PARTNERS HEALTHCARE SYSTEM (MASSACHUSETTS):

• $100 million series 2016 taxable bonds (Aa3/AA-/AA)

• Negotiated

• J.P. Morgan Securities LLC (lead)

• BofA Merrill Lynch, Barclays, Jefferies & Co., TD Securities (USA) LLC and Wells Fargo Securities LLC (co-managers)

• Proceeds for general corporate purposes

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