December 22, 2020

Raymond James recognized with The Bond Buyer’s Deal of the Year award

ST. PETERSBURG, Fla. – Raymond James Public Finance/Debt Investment Banking received industry honors during The Bond Buyer’s 19th Annual Deal of the Year Awards for their role in the California Health Facilities Financing Authority’s inaugural No Place Like Home program bond issuance.

Raymond James served as bookrunning joint senior manager with Citi for the $500 million sale of taxable revenue bonds issued by the California Health Facilities Financing Authority. This was the first installment of California’s $2 billion bond authorization for the No Place Like Home program, which will fund permanent supportive housing for persons who are in need of mental health services and are homeless or at risk of homelessness.

“Bringing this new credit to market took nearly four years of working with several State departments. Through our collaborations, we were able to develop a resilient bond structure that reflects the mechanics and intent of the underlying legislation, and mitigates the volatility of the revenue stream,” said Emily Giles, director in Public Finance/Debt Investment Banking at Raymond James. “We are very proud of the success of this transaction and the profound impact it will have on our communities for years to come.”

“This year, our editorial board has selected a deal that truly meets all of our criteria,” said Mike Scarchilli, editor in chief of The Bond Buyer. “It’s a complex deal that required creative solution making to pull off. It introduced a new, innovative credit and a replicable financing model. It attracted broad interest domestically and internationally. And though it wasn’t brought to market in response to the pandemic, the significant social problem it addresses has been exacerbated since this deal’s pricing.”

For nearly 20 years, The Bond Buyer has been identifying and recognizing the nation’s leading municipal finance transactions and the professionals behind them with their Deal of the Year award. The editorial board considers a range of factors when judging entries, including: creativity, the ability to pull a complex transaction together under challenging conditions, the ability to serve as a model for other financings and the public purpose for which a deal’s proceeds were used.

The Bond Buyer editors select ten regional winners, reflecting the market's national scope. The editors will also award special prizes to the outstanding small-issuer transaction — conducted by a public or nonprofit entity with less than $70 million of revenues in its most recent fiscal year — as well as a winner for the outstanding "nontraditional" public finance deal. Nonprofit and public health care organizations will be eligible to compete in the national category, which was established in recognition of the fact that many hospital operators manage systems that extend across traditional regional boundaries.

The ranking may not be representative of any one client's experience, is not an endorsement, and is not indicative of an advisor's future performance. Neither Raymond James nor any of its financial advisors pay a fee in exchange for this award/rating. The Bond Buyer is not affiliated with Raymond James.

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF), is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,200 financial advisors. Total client assets are $930 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at raymondjames.com.