Utilities

A powerful force in utilities financing.

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 2016, Raymond James ranked as the nation’s eighth-leading underwriter of water/sewer/gas transactions, senior managing 58 negotiated issues with a total par of nearly $1.6 billion. In addition, the firm has ranked in the top-10 nationally in senior managed public power issues.*

Full-service Capabilities

  • Water revenue and refunding bonds
  • Wastewater revenue and refunding bonds
  • Water project financings
  • Separate agency financings
  • City, county and state water utility financings
  • Power financings

Representative clients include:

  • New York City Municipal Water Finance Authority
  • Nashville Electric System (Tennessee)
  • North Dakota Rural Water Finance Authority
  • Wisconsin Rural Water Construction Loan Program Commission
  • North Carolina Eastern Municipal Power Agency
  • Shreveport, Louisiana
  • Water Works Board of Birmingham, Alabama
  • Mississippi Development Bank
  • Kentucky Rural Water Finance Corporation

*Source: Thomson Reuters


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