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About Municipal Underwriting

Since 1946 FirstSouthwest has been a trusted leader in public finance and has provided underwriting expertise for municipal clients across the U.S.


Since 2008, we have served as underwriter on more than $16 billion in long-term issues. We are ranked among the top 25 firms in the U.S. for senior managed long-term underwritings and among the top 20 for senior managed short-term underwritings. We also underwrote more than $475 million of bank qualified securities in 2008, ranking FirstSouthwest among the top 12 firms in the U.S. according to Thompson Reuters.
 
Unique Benefits
The diversity of our in-house resources translates into a number of unique benefits for our underwriting clients.

  • As of one the largest public financial advisory firms that is also a registered broker-dealer, FirstSouthwest is exposed to a wide variety of underwritings. This provides us a unique perspective and allows us to offer our clients the latest structuring ideas and marketing strategies being employed across all sectors of the market.
  • Our distribution network enhances our ability to pre-market and distribute municipal bonds and notes to a wide variety of investor categories, including large institutional investors, regional institutions and high net worth individuals.
  • FirstSouthwest is dedicated to the municipal bond market. We are known best for our long history as a leading underwriter or financial advisor to municipalities across the nation. Our capital and resources directly support our municipal trading and underwriting activities, and our management thoroughly understands municipal risk.

Distribution Network
Our position as a national leader in public finance enhances our ability to both maintain and expand our distribution network throughout the following investor groups:

  • Tier 1 Firms Large institutional investors, including mutual funds, trust departments, large corporations, money managers, and insurance companies. Our prominence in the financial advisory arena provides us with added credibility when selling bonds to these firms.
  • Tier 2 Firms Regional institutions, such as trust departments, smaller corporations and regional banks. Major underwriting firms often overlook these markets, while we are continuing to expand our sales force within this segment.
  • Tier 3 Firms This includes retail, such as high net worth individuals, local money managers, and prime brokers. We continue to expand our sales force within this valuable segment.

 

Bond Offerings

Last updated: 7/30/2010 3:19:45 PM EST
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123
ParMoodyS&PCusipIssuerIns.BQCouponMaturityYTWPriceNext CallCall PriceDescriptionDatedRatingYTMYTCState
 100AaaAAA249164FX7DENVER COLO CITY & CNTY GO JU-N5.00008/01/20100.300102.346  DENVER COLO CITY & CNTY GO JUSTICE SYS

10/13/2005Aaa/AAA/AAA0.3000.300CO
 2500N.A.SP-1759132KP7REGIONAL SCHL DIST NO 10 CT-Y1.50008/04/20110.370101.122  REGIONAL SCHL DIST NO 10 CT
GO BDS ANTIC NOTES SER 2010
BQ
08/05/2010N.A./SP-1/N.A.0.3700.370CT
 5Aa3A+649674FB9NEW YORK N Y CITY HEALTH & HOAMBACN5.25002/15/20122.200104.565  NEW YORK N Y CITY HEALTH & HOSP
SER A-AMBAC INSD
01/15/2003Aa3/A+/A+2.2002.200NY
 100AAAAAA88283LCF1TEXAS ST TRANSN COMMN FIRST T-N5.00004/01/20120.550107.335  TEXAS ST TRANSN COMMN FIRST TIER-SER A
HIGHWAY IMPS.
11/01/2006AAA/AAA/N.A.0.5500.550TX
 25A2NR078043EK8BELL CNTY TEX WTR CTL & IMPTAMBACN3.50007/10/20121.500103.796  BELL CNTY TEX WTR CTL & IMPT DIST NO 1
WTR REV RFDG BOOK ENTRY
AMBAC INSURED
09/15/2004A2/NR/WD1.5001.500TX
 50Aa2N.A.120280SK9SUBJECT Bullitt Cnty SD KY-Y2.00008/01/20131.100102.641  BULLITT CNTY SCHL DIST FINC
CORP, KY SCHL BLDG REF REV BDS
SER OF 2010 BQ
07/01/2010Aa2/N.A./N.A.1.1001.100KY
 340Aa2 392811FA8SUBJECT Green Cnty KY SD-Y2.00004/01/20141.350102.298  GREEN CNTY SCHL DIST FINC
CORP, KY SCHL BLDG REF REV BDS
SER 2010 BQ
08/12/2010Aa2//1.3501.350KY
 275Aa3AAA119677CR1BUFFALO N Y GEN IMPT-SER A-1AGMN5.00004/01/20141.550112.222  BUFFALO N Y GEN IMPT-SER A-1
PUBLIC IMPS. UTGO
AGM INSD
07/21/2010Aa3/AAA/A+1.5501.550NY
 0Aa2 517391KP2SUBJECT LaRue Cnty KY SD-Y2.00008/01/20141.350102.517  LARUE CNTY SCHL DIST FINC
CORP KY SCHL BLDG REF REV BDS
SER 2010 BQ
07/29/2010Aa2//1.3501.350KY
 315Aa2AA312432TF4SUBJECT Fayette Cnty KY SD BA-N2.15008/01/20142.000100.566  FAYETTE CNTY SCHL DIST FINC
CORP KY SCHL BLDG REV BDS
TAXABLE SER 2010B BABS
08/18/2010Aa2/AA/N.A.2.0002.000KY
 1225Aa3AAA346420KC5FORNEY TEX LTD TAX-PASS-THRUASSURN5.00008/15/20141.100115.334  FORNEY TEX LTD TAX-PASS-THRU TOLL
HIGHWAY IMPS. LTGO
FED TAX-EXEMPT ASSURED INSURED
07/01/2008Aa3/AAA/N.A.1.1001.100TX
 1400N.A.AA674684NJ0CITY OF OCEAN CITY NJ-Y4.00008/15/20141.050111.502  CITY OF OCEAN CITY NJ
GENL IMPRVMT BDS BQ
08/18/2010N.A./AA/N.A.1.0501.050NJ
 100A1NR6499037F2NEW YORK ST DORM AUTH REVS-N3.00003/01/20152.100103.905  NEW YORK ST DORM AUTH REVS
DEBT TEACHERS COLLEGE REFUNDING BONDS
01/29/2009A1/NR/N.A.2.1002.100NY
 250AaaAAA433344QC5HINGHAM MASS MUN PURP LN-N5.37504/01/20150.450108.12704/01/2012100.00HINGHAM MASS MUN PURP LN
SCHOOL IMPS. PUBLIC IMPS. UTGO
04/01/2002Aaa/AAA/AAA3.4690.450MA
 0Aa2AA312432TG2SUBJECT Fayette Cnty KY SD BA-N2.60008/01/20152.400100.928  FAYETTE CNTY SCHL DIST FINC
CORP KY SCHL BLDG REV BDS
TAXABLE SER 2010B BABS
08/18/2010Aa2/AA/N.A.2.4002.400KY
 940Aa2AAA047772XU7ATLANTA GAASSUREDN5.25012/01/20151.800117.440  ATLANTA GA

FED & ST TAX-EXEMP ASSURED INSURED
05/28/2009Aa2/AAA/WD1.8001.800GA
 100Aa2AA660325VE8NORTH KINGSTOWN R I-N2.75001/15/20161.750105.173  NORTH KINGSTOWN R I
FED BQ
01/15/2009Aa2/AA/N.A.1.7501.750RI
 100NRA396068ER5GREENVILLE CNTY S C SPL SOURCAMBACN3.75004/01/20162.718105.375  GREENVILLE CNTY S C SPL SOURCE
AMBAC INSD
03/27/2007NR/A/WD2.7182.718SC
 65Aa2N.A.411873PT3HARDIN CNTY SCHL DIST FIN-Y2.62506/01/20162.100102.862  HARDIN CNTY SCHL DIST FIN
CORP, KY SCHL BLDG REF
REV BDS, SER OF 2010 BQ
07/22/2010Aa2/N.A./N.A.2.1002.100KY
 260AA1NR365172FD2GARDEN CITY UNION FREE SCHL-Y3.00007/15/20161.820106.622  GARDEN CITY UNION FREE SCHL
DIST NY SCHL DIST (SERIAL) BDS
2010 BQ ST AID WITHHLDG
07/15/2010AA1/NR/N.A.1.8201.820NY
 315AA2NR120280SN3SUBJECT Bullitt Cnty SD KY-Y2.40008/01/20162.000102.247  BULLITT CNTY SCHL DIST FINC
CORP, KY SCHL BLDG REF REV BDS
SER OF 2010 BQ
07/01/2010AA2/NR/N.A.2.0002.000KY
 365Aa2AA312432TH0SUBJECT Fayette Cnty KY SD BA-N2.90008/01/20162.700101.092  FAYETTE CNTY SCHL DIST FINC
CORP KY SCHL BLDG REV BDS
TAXABLE SER 2010B BABS
08/18/2010Aa2/AA/N.A.2.7002.700KY
 135NRNR499422DE0SELL ORDR Knox County KYRADIAN5.80012/01/20165.421102.000  KNOX CNTY KY
TAXABLE-KNOX CNTY HOSP PJ
RADIAN INSD
12/01/2006NR/NR/WD5.4215.421KY
 100Aa3NR670692LK6NYE CNTY NEV SCH DISTFSAN3.80005/01/20171.782105.37505/01/2013100.00NYE CNTY NEV SCH DIST
FSA INSD
10/01/2003Aa3/NR/WD2.9151.780NV
 555AA2NR411873PU0HARDIN CNTY SCHL DIST FIN-Y2.75006/01/20172.350102.506  HARDIN CNTY SCHL DIST FIN
CORP, KY SCHL BLDG REF
REV BDS, SER OF 2010 BQ
07/22/2010AA2/NR/N.A.2.3502.350KY
 270AA1NR365172FE0GARDEN CITY UNION FREE SCHL-Y3.00007/15/20172.120105.656  GARDEN CITY UNION FREE SCHL
DIST NY SCHL DIST (SERIAL) BDS
2010 BQ ST AID WITHHLDG
07/15/2010AA1/NR/N.A.2.1202.120NY
 15NRNR56036YED3MAIN STR NAT GAS INC GA-N5.50007/15/201713.65564.000  MAIN STR NAT GAS INC GA

04/29/2008NR/NR/13.65513.655GA
 1725N.A.AA674684NM3CITY OF OCEAN CITY NJ-Y3.00008/15/20172.160105.423  CITY OF OCEAN CITY NJ
GENL IMPRVMT BDS BQ
08/18/2010N.A./AA/N.A.2.1602.160NJ
 5N.A.AAA348185BU2FORT OGLETHORPE GA W/SAGCN3.50010/01/20172.875103.50010/01/2016100.00FORT OGLETHORPE GA W/S
ASSURED INSD
FED BQ
12/22/2009N.A./AAA/N.A.2.9542.870GA
 35NRA667902GK0NORTHWEST HARRIS CO MUD #10FGICN3.70004/01/20183.000101.12104/01/2012100.00NORTHWEST HARRIS CO MUD #10
FED BQ UT FGIC INSURED
06/01/2003NR/A/WD3.5313.000TX
123
* - Denotes Pre-Refunded Offering

This document is intended for illustrative purposes only, and is not a solicitation, commitment or offer. The information herein & the data underlying it has been obtained from sources that we believe are reliable, but no assurance can be given that this information is accurate or complete or that the returns or yields described can be obtained. First Southwest Co. or its employees may take the other side of any order by you, enter into transactions contrary to any recommendations herein, or have positions or make markets in the securities mentioned herein or options or futures contracts relating thereto and may also have performed investment banking services or public finance services. The investments discussed herein may not be suitable for all investors, you should consult your own investment advisor.

Recent Transactions

12
DateAmountClient NameClient LocationTransaction TypeSector
10/30/2009$5,000,000Stoughton, MAMassachusettsGO RANs 09Cities and Towns
10/29/2009$5,650,000Windfern Forest UDTexasUT Rfdg Bonds 09Utility Districts
10/29/2009$105,625,000Plano ISDTexasUT School Bldg Bonds 09ASchool Districts
10/28/2009$23,765,000Trinity River AuthorityTexasDenton Creek CWSRF 2009River Authorities
10/28/2009$4,845,000Trinity River AuthorityTexasMountain Creek SRF 2009River Authorities
10/28/2009$8,760,000Rhode Island Clean Water Finance AuthorityRhode IslandSafe Drinking Water SRF Rev Bonds 09AState Agencies and Authorities
10/28/2009$1,422,448Haverhill, MAMassachusettsSAANS 09Cities and Towns
10/28/2009$1,582,198Haverhill, MAMassachusettsGO BANs 09Cities and Towns
10/28/2009$10,788,000Haverhill, MAMassachusettsState Qualified Muni Purpose Loan BondsCities and Towns
10/28/2009$12,445,000Greater Fairbanks CHFTexasRefunding and Revenue Bonds 09CHealthcare
10/28/2009$8,095,000College StationTexasGO Ref, S09Cities and Towns
10/27/2009$14,245,000University of Mississippi EBCMississippiRev Bonds 09CHigher Education
10/27/2009$8,710,000Sugar LandTexasWW and SS Rev Rfdg Bonds, S09Cities and Towns
10/27/2009$15,180,000Sugar LandTexasGO Rfgd Bonds 09Cities and Towns
10/27/2009$925,000RosenbergTexasCOs 09Cities and Towns
10/27/2009$761,368Revere, MAMassachusettsGO BANs 09Cities and Towns
10/27/2009$13,250,000Providence, RIRhode IslandSRF Bonds (RICWFA)Cities and Towns
10/27/2009$7,410,000Pawtucket, RIRhode IslandSRF Bonds (RICWFA)Cities and Towns
10/27/2009$3,300,000Newport, RIRhode IslandSRF Bonds (RICWFA)Cities and Towns
10/27/2009$3,200,000Montgomery Co MUD 99TexasUT Bonds, S09Utility Districts
12

Case Studies

  • Alaska Housing Finance Corporation

  • Dallas Convention Center Hotel

  • Orlando-Orange County Expressway Authority, Florida

  • City of Kingsville, Texas

  • Northside Independent School District, San Antonio, Texas

  • Dallas County Hospital District

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