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

  • 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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  • 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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  • Atlas Preparatory School

    On April 1, 2015, BB&T Capital Markets closed a $12,190,000 tax-exempt fixed rate bond offering for Atlas Preparatory Academy ("Atlas" or the "School") through the Colorado Educational and Cultural Facilities Authority. The primary purpose of the Series 2015 Bonds was to acquire and renovate the School's existing high school facilities, refinance the loan secured by the middle school facilities, and provide the expansion of athletic fields. Bond proceeds also provided funds for a debt service reserve fund, capitalized interest and costs of issuance.

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  • Triad Educational Services / Triad Math and Science Academy Company

    On March 11th, 2015, BB&T Capital Markets closed a $20,845,000 Series 2015A Tax-Exempt Fixed Rate Bond Issue and a $1,365,000 Series 2015B Taxable Fixed Rate Bond Issue (collectively, the “Series 2015 Bonds”) for Triad Educational Services, Inc. Proceeds of the Series 2015 Bonds were used to refinance existing indebtedness and to make certain improvements at the Facilities. Bond proceeds also provided funds for a debt service reserve fund, capitalized interest, and costs of issuance. The Series 2015 Bonds were issued through the Public Finance Authority and the bond proceeds were loaned to Triad Educational Services, Inc., (TES) the owner of the acquired facilities. The facilities were leased to the Triad Math and Science Academy Company (TMSAC) for the operation of the Triangle Math and Science Academy (Triangle) in Cary, North Carolina and the Triad Math and Science Academy (Triad) in Greensboro, North Carolina.

    

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  • Vista Charter Public Schools

    On October 30, 2014, BB&T Capital Markets closed a $7,075,000 Series 2014 tax-exempt fixed rate bond transaction for Vista Charter Middle School through the California Municipal Finance Authority. The primary purpose of the Series 2014 Bonds was to finance the acquisition of the existing facility that Vista was leasing. The 2-story, 32,000 square foot facility is located on approximately 0.89 acres of land in Los Angeles, California. Bond proceeds also provide funds for a debt service reserve fund and costs of issuance.

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  • The Glebe, Inc.

    On July 22, 2014, BB&T Capital Markets closed a $41,155,000 financing for The Glebe, a continuing care retirement community (CCRC) north of Roanoke, Va. The 2014 financing allows The Glebe to replace a costly and inflexible capital structure with one that vastly improves income and liquidity, favorably positioning the community for future expansion.

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  • Senior Living Choices of Virginia, Inc.

    On July 11, 2014, BB&T Capital Markets closed a $45,500,000 bank financing for Senior Living Choices of Virginia, Inc., d/b/a/ Brandermill Woods Retirement Community (Brandermill Woods), which owns and operates a rental continuing care retirement community, in Chesterfield County, Va. Proceeds of the financing will be used to add 93 new independent living units as well as 22 skilled nursing private rooms to the health care center. The completion of this financing marked the successful conclusion of Brandermill Woods’ multi-step capital formation strategy.

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  • Georgia Charter Educational Foundation, Inc.

    On June 5, 2014, BB&T Capital Markets closed a $12,485,000 Series 2014A/B tax-exempt and taxable fixed rate bond transaction through the Development Authority of the City of Senoia. The transaction financed a charter school in Senoia for the Georgia Charter Educational Foundation, Inc. The primary purpose of the Series 2014 Bonds was to finance the acquisition of the 57,871-square-feet of improvements as well as equipping and furnishing the K-8 classrooms at the charter school. Bond proceeds also provided funds for a debt service reserve fund, a capitalized interest fund, and a working capital fund.

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  • Silver Creek St. Augustine

    On May 29, 2014, BB&T Capital Markets closed a nonrated $28,615,000 tax-exempt fixed rate financing and $1,000,000 taxable fixed rate financing for Zerga Development, LLC, and Zerga Management, LLC, a for-profit developer and manager of traditional multifamily housing and hospitality projects. The primary purpose of the financing was to provide funds for the construction of Silver Creek St. Augustine, an assisted living/memory care facility to be located in St. Augustine, Fla. BB&T Capital Markets, through its expertise with non-rated senior living credits and familiarity with healthcare and housing bonds, was able to utilize a form of housing bonds to provide the construction financing for Silver Creek St. Augustine. Through a combination of tax-exempt and taxable bonds, local grants and economic support, as well as defined deferral and subordination mechanics of the management and development fees, BB&T was successfully able to market and place the bond to nine institutional investors along with a strong retail distribution. BB&T Capital Markets was able to leverage its industry leading distribution capabilities and established relationships with institutional buyers to broaden Zerga’s geographic offering and continue their planned growth initiatives.

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