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              1. 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 2018, Raymond James ranked as the nation’s second-leading underwriter of water/sewer/gas transactions, senior managing 18 negotiated issues with a total par amount of nearly $750 million.*

                *Source: Bloomberg, based on total number of issues. Past performance may not be indicative of future results.

                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

                Great ideas and superior execution know no boundaries

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                Public Finance Market Watch

                In-depth and timely commentary and analysis on the municipal market from industry experts.