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 2022, Raymond James ranked as the nation’s leading underwriter of water/sewer/gas transactions, senior managing 22 negotiated issues.*
*Source: Bloomberg, based on total number of 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
Public Finance Market Watch
In-depth and timely commentary and analysis on the municipal market from industry experts.