280 CapMarkets Completes Participation in Its First New Issue Underwritings

SAN FRANCISCO, Dec. 12, 2017 /PRNewswire/ -- 280 CapMarkets™, through its broker-dealer, 280 Securities LLC, today announced that it has completed its participation in The State of California Public Works Board. On Nov. 7, the State closed on three series of lease revenue refunding bonds totaling approximately $200 million. These issues represent the firm's first co-management of new issues since operations began in May 2017.

280 CapMarkets joined the State of California's underwriting pool this summer and became a selling group member on the State's approximately $2.2 billion General Obligation Bond sale in early September. 

Participation in the State of California underwriting pool elevates the firm's status to a risk-taking co-manager on the State Public Works issues, reflecting the firm's contribution as an effective distributer of State-supported debt to retail investors.

Separately, 280 CapMarkets has also been added to the selling group pool for the Dormitory Authority of the State of New York (DASNY). These inclusions by the State of California and DASNY mark the firm's initial efforts in new issue origination, which it is expanding. 

280 CapMarkets' distribution is enhanced by its Bond Navigator™ cloud-based technology platform. Bond Navigator empowers independent financial and wealth advisors with broad access to the almost $4 trillion municipal bond market, as well as in-depth information allowing users to search, compare, and curate bonds for their clients. Trades are executed by the firm's highly experienced team of capital markets professionals with price transparency. Pre-trade data, combined with post-trade 280 Best X™ documentation, supports advisors' best execution requirements.

"280 CapMarkets is growing its new issue origination business," said Tom Lockard, a co-founder and head of 280 CapMarkets' investment banking.  "Stepping up for the California State Public Works Board as a co-manager is an important accomplishment for our firm and creates a foundation we can build on as we develop our new issue underwriting, not only in California but across the country."

About 280 CapMarkets
Headquartered in San Francisco, 280 CapMarkets is a technology-driven fixed income business that combines the experience and execution services of a traditional broker-dealer (280 Securities LLC, a member of FINRA/SIPC) with a cloud-based technology platform (280 Technologies LLC) to provide intuitive bond trading ideas, access to a broad offering of bonds, and greater pricing transparency. 280 CapMarkets serves investment advisors and wealth managers, and uses its balance sheet to provide liquidity in the fixed-income markets. To learn more please visit 280capmarkets.com.

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SOURCE 280 CapMarkets

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