• About our transaction

    • Following a favorable pre-marketing period, the pricing was extremely successful, receiving a total aggregate over-subscription of 4.2x with 31 different institutional investors across the maturity spectrum.
    • Given the demand, the yields were reduced in most maturities, resulting in an All-In True Interest Cost of 4.05% over 25 years.

    About our transaction

    • The Certificates were structured to appeal to a broad range of investors, resulting in individual maturity oversubscriptions of up to 9x and an aggregate oversubscription of 6x.
    • RJ reduced yields by up to 3 bps after the marketing period, and further reduced yields up to 7 bps after the order period.

    About our transaction

    • RJ engaged in strong pre-marketing efforts, resulting in an individual maturity oversubscription of up to 9x and aggregate oversubscription of 5.4x.
    • Yields were reduced by 5-15 bps in the earlier maturities after the marketing period, and further reduced yields up to 7 bps across all maturities after the order period.

    About our transaction

    • The City’s financing was driven by strong and diverse investor participation, leading to total oversubscription of 4.9x.
    • Raymond James was able to adjust yields lower by 2 to 7 basis points across all maturities after the order period, resulting in aggregate NPV savings of $6.97 million, or 15.72% of the refunded par amount.

    About our transaction

    • As the result of our strong pre-marketing efforts, orders for the Series 2017B Certificates resulted in aggregate oversubscription of 8.5x.
    • Overall, Raymond James adjusted yields lower by 5 bps in the 2027 maturity and 6 bps in the 2028 maturity after the order period, resulting in NPV savings of $4.39 million, or 7.9% of the refunded par amount.

    About our transaction

    • Orders for the Bonds were received from 32 different accounts with aggregate oversubscription of 3.7x.
    • Yields were reduced by up to 4 basis points after the marketing period, and further reduced by up to 6 basis points after the order period. Also, we underwrote a significant portion of the transaction (9%) to avoid increasing yields.
  • About our transaction

    • Orders for the Series 2017 Bonds were received from 25 different accounts across the maturity spectrum with individual maturity oversubscription of up to 10.8x and aggregate oversubscription of 8.3x.
    • Overall, we were able to reduce yields by 5 to 15 basis points across all maturities after the order period.

    About our transaction

    • The proximity of our global headquarters in St. Petersburg, Florida, allowed the District to invite students, teachers and administrators to attend the pricing of the Certificates.
    • Orders for the Certificates were received from 46 different accounts with individual maturity oversubscription of up to 8.9x and aggregate oversubscription of 4.6x.

    About our transaction

    • During the July pricing process, we recommended a mix between discount and premium coupon structures based on investor feedback, resulting in a reduced borrowing cost. Orders for the Series 2017 Bonds were received from 25 different accounts across the maturity spectrum with individual maturity oversubscription of up to 6.7x and aggregate oversubscription of 4.3x.

    About our transaction

    • As a result of our strong pre-marketing efforts to institutional clients, orders for the Series 2017 Bonds were received from 13 different accounts across the maturity spectrum with individual maturity oversubscription of up to 15 bps after the pre-marketing period, and 5 bps in the 2037 and 2046 term bonds after the order period.

    About our transaction

    • Orders for the Series 2017 Bonds were received from 43 different accounts across the maturity spectrum with individual maturity oversubscription of up to 15x and aggregate oversubscription of 6.4x.
    • Overall, we were able to reduce yields by 4 to 10 basis points across all maturities after the order period.

    About our transaction

    • As the result of our retail focus and strong pre-marketing efforts, orders for the Series 2017 Bonds were received from 51 different accounts across the maturity spectrum with individual maturity oversubscription of up to 17x and aggregate oversubscription of 11x.
  • About our transaction

    • In total, the Town received over $35.38 million in orders for the Series 2016 bonds.
    • Overall, the Town was able to lock in an all-in true interest cost on the Series 2016 Bonds of 3.755% and realize net present value savings of approximately $715,000 or 6.01% of the refunded par amount.

    About our transaction

    • On the day of pricing, Raymond James structured the certificates to attract a broad and diverse investor base to achieve the lowest possible borrowing cost.
    • Overall, Raymond James adjusted yields lower by up to 7 basis points based on investor demand on the day of pricing, resulting in NPV savings of $3.55 million, or 8.98% of the refunded par amount.

    About our transaction

    • Orders for the Series 2017 Bonds were received from 43 different accounts across the maturity spectrum with individual maturity oversubscription of up to 15x and aggregate oversubscription of 6.4x.
    • The transaction was structured to attract the most broad and diverse investor base, resulting in an All-In True Interest Cost of 3.23% over 15.6 years.

    About our transaction

    • In total, the City received over $38.98 million in orders.
    • The City was able to lock in an all-in true interest cost on the Series 2016 Bonds of 2.709%, realize net present value savings of $4.9 million, or 18.45% of the refunded par amount and used the refunding savings to generate a Project fund deposit of approximately $5.249 million.

    About our transaction

    • Identified, tracked and updated the City on market conditions and the refunding opportunity regularly leading up to pricing.
    • The Bonds were oversubscribed by 8x with yield reductions of up to 8bps. The City achieved a True Interest Cost of 2.85% over 20 years and net present value savings of $6 million or 16% of the refunded par amount.

    About our transaction

    • Analyzed the use of a Modified Make Whole Call that was ultimately utilized by the County in addition to a traditional 10-year par call increasing the potential to generate savings in a subsequent refinancing.
    • An effective pre-marketing strategy resulted in aggregate oversubscription of 2.18 times, or $124 million of orders.
  • About our transaction

    • As Senior Manager on the Series 2016 Bonds, Raymond James structured coupons to attract the broadest and most diverse investor base, while achieving the lowest possible borrowing cost.
    • The transaction achieved a True Interest Cost of 2.72% over 21 years and net present value savings of $1.7 million or 11% of the refunded par amount.

    About our transaction

    • As the result of implementing an effective pre-marketing strategy, the transaction resulted in aggregate oversubscriptions of 2.5 times, or approximately $176 million of orders.
    • Overall, the transaction attracted a broad and diverse investor base to realize a True Interest Cost of 3.37% over 24.2 years.

    About our transaction

    • On the day of pricing, due to lack of investor demand for bond insurance, RJ decided to structure the transaction uninsured which resulted in $165 million in orders (4x oversubscribed).
    • The County was able to realize net present value savings of $4.6 million, or 11.7% of the refunded par amount.

    About our transaction

    • RJ generated strong investor interest in a challenging market, achieving yield reductions of up to 10 basis points.
    • Since its inception, RJ has served on the underwriting team for all the Authority’s fixed rate transactions, senior managing 10 financings for a total par amount of $1.4 billion.

    About our transaction

    • In total, the District received $461 million in orders (6x over-subscribed). Due to the significant level of investor demand, RJ was able to lower yields by up to 8 bps across the curve.
    • The District was able to realize PV savings of $10.7 million, or 13% of the refunded par value.

    About our transaction

    • RJ consistently monitored market conditions and bonding capacity following the sales tax referendum.
    • RJ evaluated shorter call options and looked at investor perceptions of utilizing certain DSRF surety providers.
    • Due to aggressive marketing efforts, yields were reduced by up to 17 bps.
  • About our transaction

    • RJ set up internal sales calls, a recorded investor presentation and investor calls, actively engaging over 50 participants.
    • The average spread was 82 bps over MMD for this A1/A+ Broward County transaction, which was over 40 bps tighter than the spread for the Airport’s prior transaction.

    About our transaction

    • The Bonds were structured with premium and discount coupons to appeal to a diverse base of investors, resulting in oversubscriptions of 3.45x, which allowed yields to be adjusted lower by up to 6 bps.
    • RJ underwrote a significant portion of the transaction (>10%) and avoiding increasing yields.

    About our transaction

    • RJ acted as Sole Manager to advance refund all of the City’s outstanding 2006 Bonds.
    • After discussions with RJ, the City chose to proceed with only one rating and with a surety in lieu of a cash-funded DSRF.
    • Despite a shortened week and increased supply, the Bonds had over 4x oversubscription.

    About our transaction

    • RJ updated the Authority on refunding and new money structures for over 3 years leading up to pricing.
    • RJ engaged in aggressive pre-marketing during a challenging market. These efforts resulted in $177 million of orders, allowing RJ to lower yields by up to 7 basis points.

    About our transaction

    • RJ monitored the markets and evaluated the potential economics in connection with the use of discount bonds leading up to the pricing.
    • In total, the County received a total of $121 million in orders (2.4x oversubscribed), with individual maturities oversubscribed by up to 6 times.

    About our transaction

    • RJ structured both premium and discount coupons to attract the most broad and diverse investor base, while achieving the lowest possible borrowing cost.
    • RJ supported the transaction by underwriting a significant portion (>20%) of the bonds.
  • About our transaction

    • RJ tracked and updated the City on market conditions and the refunding opportunity on an ongoing basis.
    • RJ structured coupons and bifurcated maturities to attract the largest number of diverse investors.
    • The City achieved PV debt service savings of $3.2 million or 9% of the refunded par amount.

    About our transaction

    • RJ supported the County by updating the County on the refunding opportunity on an ongoing basis.
    • RJ aggressively marketed the bonds and adjusted yields in certain maturities on the pricing day.
    • The County achieved PV debt service savings of $1.5 million, or over 7% of the refunded par amount.

    About our transaction

    • The University selected a development team led by Servitas, LLC, with RJ acting as Sole Manager for the tax-exempt financing.
    • After a pre-marketing period of two weeks, the sale was largely oversubscribed.
    • With a final maturity of 2048, the Authority achieved a true interest cost of 4.69%.

    About our transaction

    • The District achieved a TIC of 2.52% over 13 years and PV debt service savings of 15.7% of the refunded par amount on the refunding bonds, and a TIC of 3.12% over 17 years for its new money projects.
    • RJ supported the transaction by underwriting the majority (65%) of the bonds.

    About our transaction

    • RJ has been a member of the County’s underwriting team for 7 years.
    • RJ structured the transaction to optimize the use of insurance, insuring only the 2021-2035 maturities.
    • At the end of the order period, the County received $69.5 million in orders (1.2x oversubscribed).

    About our transaction

    • RJ helped the Authority achieve a ratings upgrade to Aa1 (Moody’s).
    • Due to market volatility, RJ accelerated the pricing schedule. Treasury rates hit year-to-date lows on the day of pricing.
    • The Authority achieved PV debt service savings of $9 million, or over 10% of the refunded par amount.