City of Shreveport, State of Louisiana
Water & Sewer Revenue Bonds, Series 2014A
Siebert Brandford Shank steps up to underwrite unsold bonds for Shreveport
The City of Shreveport, Water and Sewer System (LA) successfully sold $75 million of new money revenue bonds in November 2014 after having been absent from the market for eight years.
Siebert Brandford Shank worked with the City and its financing team to pre-market and price the transaction in a declining market, and overcame a major legal obstacle to close this transaction one week after pricing. Due to the urgent need of bond proceeds to jump start its water & sewer capital improvement program. Our sales desk generated $105 million in total orders—79% of the total orders submitted. More importantly, we stepped up to underwrite the remaining $12.6 million of unsold bonds.