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The public finance professionals at Raymond James have extensive experience in the underwriting of utility bonds, both on a negotiated basis and at competitive sale. In fact, we were involved in the first-ever bond issue by a public utility for the prepayment of electricity. This $1.5 billion bond issue was executed by the city of Memphis to purchase electricity over a 15-year period at a discount from Tennessee Valley Authority, the city’s sole supplier.
In 2017, Raymond James ranked as the nation’s eighth-leading underwriter of senior managed public power issues. In addition, the firm ranked as the nation’s ninth-leading underwriter of water/sewer/gas transactions, senior managing 31 negotiated issues with a total par of nearly $1 billion.*
*Source: Thomson Reuters, based on total par amount