SWBC Investment Services Named as a Co-Manager for City of San Antonio Bonds

News provided by

Sep 12, 2023, 09:04 ET

SAN ANTONIO, Sept. 12, 2023 /PRNewswire/ -- SWBC Investment Services, LLC, was named Co-Manager on a series of municipal bonds totaling nearly $534 Million for the City of San Antonio (CoSA). The bonds – a mix of tax-exempt and taxable – are designated for public improvements and range from general improvement bonds, Series 2023, to Combined Tax and Revenue COs, Series 2023. The taxable bonds will provide funds to CoSA's affordable housing program, interim financing for airport capital improvements, and overall updates to the San Antonio International Airport. The tax-exempt bonds will provide funds for various street, sidewalk, and landscaping improvements; updates to city-owned public safety facilities; the acquisition and installation of software and hardware, communications systems, and information technology; and enlarging, expanding, and improving community parks and recreational facilities (including municipal golf courses and Main Plaza).

John Tuohy, CEO of SWBC Investment Services (PRNewsfoto/SWBC)

"As a San Antonio-based company, we are proud to be selected by the City of San Antonio to work with the underwriting syndicate to place these bonds in the market successfully," said John Tuohy, CEO of SWBC Investment Services. "Our footprint in the public finance and capital markets business will continue to grow, and as a local firm, we encourage Texas municipalities to continue to seek out local experts in the business."

Issuer: City of San Antonio
Issue: General Improvement Bonds, Series 2023
Security Type: Municipal Bond
Tax Treatment: Tax Exempt
Amount: $163,665,000
SWBC's Role: Co-Manager
Sale Type: Negotiated Underwriting
Sale Date: 8/22/2023
Settlement Date: 8/31/2023
Use of Proceeds: Public Improvements

Issuer: City of San Antonio
Issue: Comb Tax and Rev COs, Series 2023
Security Type: Municipal Bond
Tax Treatment: Tax Exempt
Amount: $46,990,000
SWBC's Role: Co-Manager
Sale Type: Negotiated Underwriting
Sale Date: 8/22/2023
Settlement Date: 8/31/2023
Use of Proceeds: Public Improvements

Issuer: City of San Antonio
Issue: Tax Notes, Series 2023
Security Type: Municipal Bond
Tax Treatment: Tax Exempt
Amount: $30,450,000
SWBC's Role: Co-Manager
Sale Type: Negotiated Underwriting
Sale Date: 8/22/2023
Settlement Date: 8/31/2023
Use of Proceeds: Public Improvements

Issuer: City of San Antonio
Issue: General Improvement Bonds, Taxable Series 2023
Security Type: Municipal Bond
Tax Treatment: Taxable
Amount: $23,020,000
SWBC's Role: Co-Manager
Sale Type: Negotiated Underwriting
Sale Date: 8/22/2023
Settlement Date: 8/31/2023
Use of Proceeds: Public Improvements

Issuer: City of San Antonio
Issue: Taxable Tax Notes Series 2023
Security Type: Municipal Bond
Tax Treatment: Taxable
Amount: $269,635,000
SWBC's Role: Co-Manager
Sale Type: Negotiated Underwriting
Sale Date: 8/22/2023
Settlement Date: 8/31/2023
Use of Proceeds: Public Improvements

In 2018, SWBC Investment Services launched its public finance business for a diverse number of public entities, including cities and counties; higher education institutions; independent school districts; municipal utility, water, drainage, and special districts; and regional transportation districts. Since then, the company has managed over $1 billion of new issue municipal bond financing transactions.

About SWBC
As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages business around the world. No matter how wide its reach, SWBC always listens to our customers' needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC's website at www.swbc.com. Securities offered by SWBC Investment Services, LLC, member SIPC & FINRA. Advisory services offered by SWBC Investment Services Company, a Registered Investment Advisor.

SOURCE SWBC