Municipal Markets

The BB&T Capital Markets Municipal Markets Group provides comprehensive capital structure planning and execution for a wide variety of healthcare, governmental, educational and nonprofit entities as well as corporate clients.  Our targeted practice ensures that each client has absolute access to seasoned professionals with the experience necessary to navigate the toughest economic environments in order to generate favorable results, while providing guidance and support.  With a robust distribution platform that reaches the full spectrum of investors, BB&T is able to deliver real-time market intelligence and superior execution for our clients.

Our team is armed with the broadest array of financial tools in the sector allowing us to provide a variety of services to our clientele, including:

  • Comprehensive financial advisory services including long-term capital planning, rating agency and credit enhancement strategies, financial policy development and financial modeling
  • Public and private bond underwriting including tax-exempt and taxable financing
  • Bank and private placement financing
  • Interest rate risk management (derivatives and swaps) and advisory services
  • Investment services for bond and loan proceeds


The result: A relationship approach that is focused on you.We leverage years of industry expertise and our broad array of services to execute successful debt issuances and provide you with a feeling of certainty and peace of mind.

 

We have produced more than 500 successful financings totaling $18.7 billion for healthcare, governmental, educational and non-profit institutions since the onset of the financial crisis in 2008

  • Nova Academy

    On Nov. 16, 2016, BB&T Capital Markets closed $18,865,000 Series 2016A&B tax-exempt and taxable fixed rate bond issues for Nova Academy in Santa Ana, Calif. Proceeds of the Series 2016 bonds were used o finance the acquisition of a high school facility, fund a debt service and pay capitalized interest and costs of issuance.

  • Parnassus Preparatory School

    On Nov. 15, 2016, BB&T Capital Markets closed the $27,110,000 Series 2016A (tax-exempt)
    and $260,000 Series 2016B (taxable) fixed rate bond transaction for Parnassus Preparatory
    School. The proceeds of the Series 2016 Bonds financed the acquisition of the current charter
    school facility as well as provide for certain improvements to the facility including additional
    classrooms, a courtyard/playground area and upgrade other administrative spaces. Once the
    improvements are completed, the facility will consist of 58 classrooms, three music rooms,
    three art rooms, two science labs, two gymnasiums, and other additional multi-use spaces.
    In addition, the bond proceeds will fund a debt service reserve fund and pay for the costs of
    issuing the bonds.

  • Wesley Commons

    On October 19, 2016, BB&T Capital Markets closed a $27,110,000 Series 2016 Fixed Rate Bond Issue to retire Wesley Commons’ existing Series 2006 Fixed Rate Bonds.

    BB&T worked with Wesley Commons and Ascension Capital Enterprises on the refinancing of Wesley Commons Series 2006 Bonds. The team decided to extend the maturity of the bonds by five years to create additional debt capacity. As pricing approached in early October, BB&T revised the bond structure to eliminate serial bonds in favor of a term bond with a premium structure, thus increasing the savings realized by Wesley Commons. Despite market turmoil on the day of pricing that caused the major market index to move up seven basis points, BB&T was able to successfully price the transaction without having to adjust interest rates. Wesley Commons ultimately received an all-in-cost of 4.59 percent and will save approximately $440,000 on an annual basis from 2017-2036 as a result of the refinancing.

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  • LifeSpire of Virginia

    On October 12, 2016, BB&T Capital Markets closed an $85,505,000 Series 2016 Fixed Rate Bond issue for LifeSpire of Virginia (“LifeSpire”). The proceeds will be used to retire LifeSpire’s existing Series 2006A and Series 2006C Fixed Rate Tax-Exempt Bonds as well as a taxable line of credit.

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  • Florida Charter Foundation, Franklin Academy

    On July 21, 2016, BB&T Capital Markets closed a non-rated $50,820,000 tax-exempt fixed rate bond offering for the Florida Charter Foundation.  The purpose of the financing was to acquire the existing facilities for two of the campuses operated by Florida Charter Foundation: Franklin Academy Boynton Beach, and Franklin Academy Cooper City.  Bond proceeds also provided funds for a debt service reserve fund, capitalized interest for approximately six months, repayment of an outstanding line of credit from Building Hope, and costs of issuance.

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  • Edkey, Inc.

    On June 14, 2016, BB&T Capital Markets closed a $31,315,000 Series 2016 Tax-Exempt Fixed Rate Bond Issue for Edkey, Inc. in Arizona. Proceeds of the Series 2016 Bonds were used to refinance prior 2006 bonds, acquire and improve charter school facilities and land located in the greater Phoenix area. Bond proceeds also provided funds for a debt service reserve fund and costs of issuance.

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  • Newman International Academy

    On May 5, 2016, BB&T Capital Markets closed an $18,315,000 Series 2016A&B Tax-Exempt Fixed Rate Bond Issue for the Newman International Academy in Texas. Proceeds of the Series 2016A&B Bonds were used to finance the cost of the acquisition, improvement, renovation and equipping a former university campus in Cedar Hill, Texas. The project also included the construction of a gym/event center with additional classrooms, and administrative spaces located on the same campus. Bond proceeds also provided funds for a capitalized interest fund, a debt service reserve fund and costs of issuance.

  • Pikes Peak School for Expeditionary Learning

    On Dec. 8, 2015, BB&T Capital Markets (BB&T) closed a $6,189,135 tax-exempt direct purchase financing for Pikes Peak School for Expeditionary Learning (PPSEL or the school) through the Colorado Educational and Cultural Facilities Authority. The Series 2015 financing was undertaken to refinance the school’s existing Series 2008 Bonds to reduce operational expenses. Notably, the financing did not require a debt service reserve fund to achieve an approximate $120,000 reduction in annual debt service.

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  • Paideia Academies

    On Nov. 5, 2015, BB&T Capital Markets closed a $10,280,000 Series 2015 Tax-Exempt Fixed Rate Bond Issue for the Paideia Academies in Arizona. Proceeds of the Series 2015 Bonds will be used to acquire and improve charter school facilities and land located in south Phoenix. Bond proceeds also provided funds for a debt service reserve fund, the initial deposit to the repair and replacement fund, and costs of issuance.

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  • Research Triangle High School

    BB&T Capital Markets closes a $11,060,000 Series 2015 A&B tax-exempt and taxable fixed rate bond financing for Research Triangle High School (RTHS or the School). The primary purpose of the Series 2015 bonds was to finance the acquisition of a permanent facility for RTHS. Bond proceeds also provided funds for a debt service reserve, capitalized interest, and costs of issuance.

    

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  • International Leadership of Texas

    On August 27th, 2015, BB&T Capital Markets closed a $105,680,000 Series 2015A Tax-Exempt Fixed Rate Bond Issue and a $5,360,000 Series 2015B Taxable Fixed Rate Bond Issue (collectively, the Series 2015 Bonds) for International Leadership of Texas. Proceeds of the Series 2015 Bonds will be used to finance the cost of the acquisition, improvement, construction, renovation, and equipping of certain educational facilities, classrooms, and administrative spaces in addition to financing open-enrollment charter schools founded in Fort Worth, Garland, and Arlington, Texas and refinancing existing indebtedness. Bond proceeds also provided funds for a debt service reserve fund, capitalized interest, and costs of issuance. The acquired facilities were built-to-suit by the Charter School Fund, and leased by International Leadership of Texas.

    

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  • Crest View Senior Communities, Inc.

    On June 30, 2015, BB&T Capital Markets closed a total bond issue of $55,650,000 in tax-exempt and taxable bonds for Crest View Senior Communities (Crest View).  The bond proceeds will be used to finance the construction of a new campus and to create a new Obligated Group via a refinancing of existing debt.

    

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  • Baptist Homes Society

    On June 24, 2015, BB&T Capital Markets closed a $137,885,000 Series 2015 Fixed Rate Bond issue for Baptist Homes Society (BHS). The proceeds of the 2015 Bonds were used to refund the outstanding Series 2007 Variable Rate Demand Bonds (VRDBs).

    

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  • Salida del Sol Academy

    On June 12, 2015, BB&T Capital Markets closed a $12,390,000 tax-exempt adjustable
    rate bond offering for a school in its first year of operations, Salida del Sol Academy
    (“SDSA” or the “School”). The primary purpose of the Series 2015 Bonds was to
    refinance construction loans on the School’s existing facilities. Bond proceeds also
    provided funds for a debt service reserve fund, capitalized interest, and costs of
    issuance.

    

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Stephen R. ComaManaging Director704-954-1595 email Download My vCard View Bio