Municipal Calendar: New York City Transitional eyes $1.05 billion bond sale

Week of July 11

GEORGE WASHINGTON UNIVERSITY (DISTRICT OF COLUMBIA):

• $250 million series 2016 taxable bonds (A1/A+)

• Negotiated

• Barclays, J.P. Morgan Securities LLC and Loop Capital Markets Inc. (lead)

• Bonds due Sept. 15, 2046

• Proceeds for general corporate purposes

LOUISVILLE/JEFFERSON COUNTY METROPOLITAN GOVERNMENT (KENTUCKY)/NORTON HEALTHCARE INC.:

• $538,045,000 series 2016A health system revenue bonds (/A-/A)

• Negotiated

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

• Ramirez & Co., Inc. and Wells Fargo Securities, LLC (co-managers)

• Proceeds to construct, equip, improve, acquire and renovate Norton Hospitals facilities and to refund the health care system’s series 2006 revenue bonds

MASSACHUSETTS PORT AUTHORITY:

• $223,035,000 of bonds (Aa2/AA/AA)

• Negotiated

• J.P. Morgan Securities LLC (lead)

• Ramirez & Co., Inc. and Wells Fargo Securities, LLC (co-managers)

• Proceeds from series 2016-A used to refund all or a portion of the authority’s outstanding series 2007A revenue bonds and series 2008A variable-rate demand revenue bonds

• Proceeds from series 2016-B bonds used to finance certain capital improvements and to redeem $25 million of outstanding bond anticipation notes

• $50,995,000 of series 2016A revenue refunding bonds with serial maturities from July 1, 2017 through July 1, 2038

• $172.04 million of series 2016B revenue bonds with terms due July 1, 2043 and July 1, 2046

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY:

• $1.05 billion series 2017A future tax secured subordinate bonds (Aa1/AAA/AAA)

• Negotiated

• Siebert Brandford Shank & Co. LLC (lead)

• BofA Merill Lynch, Jefferies & Co., Ramirez & Co. Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC, Goldman Sachs & Co., Loop Capital Markets LLC, Wells Fargo Securities LLC, Barclays, BNY Mellon Capital Markets LLC, Drexel Hamilton LLC, Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, Oppenheimer & Co., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Academy Securities Inc., Blaylock Beal Van LLC, Bownick Capital Partners LLC, FTN Financial Capital Markets, Hilltop Securities Inc., PNC Capital Markets LLC, Rice Financial Products Co., Stern Brothers & Co. and Williams Capital Group LP (co-managers)

• Proceeds finance transportation capital projects

• $800 million series 2017A-1 tax-exempt bonds due 2018 to 2042

• $186,905,000 series 2017A-2 taxable bonds due 2020 to 2028

• $63,095,000 series 2017A-3 taxable bonds due 2020 to 2028

July 13

PASSAIC VALLEY SEWERAGE COMMISSION (NEW JERSEY):

• $108,295,000 series 2016 sewer system bonds (A3)

• Competitive

• Public Financial Management Inc. (financial adviser)

• Proceeds to finance capital improvements to the Passaic Valley sewage system and to refund the commissioners’ series E and F bonds

• $78.5 million series 2016H bonds due 2016 to 2025

• $29,795,000 series 2016I bonds due 2017 to 2036

July 14

COLORADO:

• $275 million series 2016A tax and revenue anticipation notes

• Competitive

• RBC Capital Markets LLC (financial adviser)

• Notes due June 29, 2017

• Proceeds to finance interest-free loans to Colorado school districts to bridge budget gaps in the coming fiscal year

On The Horizon

LOS ANGELES (CALIFORNIA):

• $1.46 billion series 2016 tax and revenue anticipation notes (MIG1/SP-1+/F1+)

• Negotiated

• Morgan Stanley & Co. LLC and Ramirez & Co. Inc. (lead)

• Williams Capital Group LP (co-manager)

• Notes due June 29, 2017

• Proceeds to finance capital expenditures for coming fiscal year

LOS ANGELES COMMUNITY COLLEGE DISTRICT (CALIFORNIA):

• $300 million election of 2008 series 2016-1 general obligation bonds (Aa1/AA+)

• Negotiated

• J.P. Morgan Securities LLC and Backstrom McCarley Berry & Co. LLC (lead)

• BofA Merrill Lynch, Loop Capital Markets LLC, Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-managers)

• Proceeds to finance improvements and upgrades to college campuses, including earthquake safety improvements

MIAMI-DADE COUNTY (FLORIDA):

• $300 million series 2016 subordinate special obligation refunding bonds (/A+/A+)

• Negotiated

• Ramirez & Co. Inc. (lead)

• Drexel Hamilton LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Rice Financial Products Co., BofA Merrill Lynch, Barclays, Blaylock Beal Van LLC, Cabrera Capital Markets LLC, Estrada Hinojosa & Co. Inc., Loop Capital Markets LLC and Raymond James/Morgan Keegan (co-managers)

• Proceeds to refund the county’s series 1996B and 2005 special obligation bonds

MICHIGAN:

• $612.99 million series 2016 grant anticipation refunding bonds (A2/AA)

• Negotiated

• Loop Capital Markets LLC and BofA Merrill Lynch (joint bookrunners)

• Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC (co-managers)

• Bonds due 2018 to 2027

• Proceeds to refund the state’s series 2007 and 2009B grant anticipation bonds

MICHIGAN STATE BUILDING AUTHORITY:

• $665 million series 2016-I revenue and refunding bonds (Aa2/A+/AA-)

• Negotiated

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

• BofA Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC, Drexel Hamilton LLC, Loop Capital Markets LLC and Wells Fargo Securities LLC (co-managers)

• Proceeds to refund existing commercial paper notes and the authority’s series 2008 revenue bonds

NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY/WAKE FOREST UNIVERSITY:

• $175 million of series 2016 education facilities revenue and revenue refunding bonds (Aa3/AA)

• Negotiated

• Wells Fargo Securities, LLC (lead)

• BB&T Capital Markets and Morgan Stanley & Co., LLC (co-managers)

• Bonds due 2021 to 2039 with a term bond due Jan. 1, 2046

• Proceeds to advance refund the university’s series 2009 revenue bonds, repay a portion of a line of credit with Branch Banking and Trust Co and pay the balance of university construction and improvements costs

OHIO WATER DEVELOPMENT AUTHORITY:

• $135 million series 2016 drinking water assistance fund revenue bonds

• Negotiated

• BofA Merrill Lynch and KeyBanc Capital Markets Inc. (lead)

• Blaylock Beal Van LLC, FTN Financial Capital Markets Inc. and William Blair & Co. (co-managers)

• Bonds due 2020 to 2037

• Proceeds to finance loans to qualified government entities for drinking water projects

OREGON:

• $593,415,000 series 2016A full faith and credit tax anticipation notes (MIG1/SP-1+/F1+)

• Negotiated

• BofA Merrill Lynch and Citigroup Global Markets Inc. (lead)

• Barclays, Goldman Sachs & Co. and J.P. Morgan Securities LLC. (co-managers)

• Notes due June 30, 2017

• Proceeds to fund cash flow deficits for the coming fiscal year

SAN DIEGO UNIFIED SCHOOL DISTRICT (CALIFORNIA):

• $195 million of series A 2016-17 tax and revenue anticipation notes (/SP-1+/)

• Negotiated

• Due June 30, 2017

• BofA Merrill Lynch and Citigroup Global Markets Inc.

• Proceeds to provide funds to meet fiscal year 2016-17 general fund expenditures, including operating expenses, capital expenditures and discharge of district debt

UNIVERSITY OF TEXAS SYSTEM:

• $200 million series 2016E revenue financing system bonds (Aaa/AAA/AAA)

• Negotiated

• RBC Capital Markets LLC (lead)

• Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc., George K. Baum & Co., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers)

• Bonds due 2017 to 2027

• Proceeds to finance campus improvements

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