Raymond James Public Finance/Debt Investment Banking received industry honors during The Bond Buyer’s 19th Annual Deal of the Year Awards for their role in the California Health Facilities Financing Authority’s inaugural No Place Like Home program bond issuance.
Raymond James served as bookrunning joint senior manager with Citi for the $500 million sale of taxable revenue bonds issued by the California Health Facilities Financing Authority. This was the first installment of California’s $2 billion bond authorization for the No Place Like Home program, which will fund permanent supportive housing for persons who are in need of mental health services and are homeless or at risk of homelessness.
“Bringing this new credit to market took nearly four years of working with several State departments. Through our collaborations, we were able to develop a resilient bond structure that reflects the mechanics and intent of the underlying legislation, and mitigates the volatility of the revenue stream,” said Emily Giles, director in Public Finance/Debt Investment Banking at Raymond James. “We are very proud of the success of this transaction and the profound impact it will have on our communities for years to come.”
“This year, our editorial board has selected a deal that truly meets all of our criteria,” said Mike Scarchilli, editor in chief of The Bond Buyer. “It’s a complex deal that required creative solution making to pull off. It introduced a new, innovative credit and a replicable financing model. It attracted broad interest domestically and internationally. And though it wasn’t brought to market in response to the pandemic, the significant social problem it addresses has been exacerbated since this deal’s pricing.”
For nearly 20 years, The Bond Buyer has been identifying and recognizing the nation’s leading municipal finance transactions and the professionals behind them with their Deal of the Year award. The editorial board considers a range of factors when judging entries, including: creativity, the ability to pull a complex transaction together under challenging conditions, the ability to serve as a model for other financings and the public purpose for which a deal’s proceeds were used.
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About Raymond James
Raymond James Financial, Inc. is a diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Raymond James was founded in 1962 with the objective of providing a comprehensive range of investment opportunities to investors, while maintaining a policy of professional integrity. Since its modest beginnings, the Firm has grown into one of the largest financial services firms in the United States. A public company since 1983, Raymond James is listed on the New York Stock Exchange under the symbol “RJF”.
Raymond James employs approximately 20,000 full-time employees nationwide, of which 170 are Public Finance professionals, and 74 of whom are sales, trading, or underwriting professionals engaged in municipal securities business. The firm has grown to its present size and organization by adhering to what has been its primary philosophy for 58 years, that of keeping the client’s financial well-being foremost. Over this time, Raymond James has become a respected, multinational company with distinct business units that serve a variety of clients, from individuals and small business owners to municipalities and major corporations. Our Public Finance group has in-depth experience and expertise in providing financing solutions for a broad range of issues, including general obligation, lease revenue bonds, airports, utilities, higher education, school districts, healthcare, housing, special tax revenue and pension/OPEB funding. We continue to expand throughout the Country and now have 36 public finance office locations nationwide. In California we have 200 offices throughout the State and five public finance offices located in Los Angeles, Pasadena, San Clemente, San Francisco, and Solana Beach.