New Jersey’s Treasury Department Thursday announced its selection of 33 firms as co-managing underwriters on future general obligation or state-backed debt sold via negotiation.
The contracts will extend for one year and the state could opt to renew those contracts for two additional terms of one year each.
The co-managing syndicate consists of: Blaylock Robert Van LLC, Cabrera Capital Markets LLC, Doley Securities LLC, Duncan-Williams Inc., Edward Jones, Estrada-Hinojosa & Co., Fidelity Capital Markets, George K. Baum & Co., Herbert J. Sims & Co., Jackson Securities, Janney Montgomery Scott LLC, Jesup & Lamont Securities Corp., KeyBanc Capital Markets, Lebenthal & Co., Loop Capital Markets LLC, Mesirow Financial, MFR Securities Inc., M.R. Beal & Co., NW Capital Markets Inc., Piper Jaffray & Co., Powell Capital Markets Inc., Prager, Sealy & Co., Ramirez & Co., Rice Financial Products Co., Roosevelt & Cross Inc., Southwest Securities, Sterne, Agee & Leach Inc., Stone & Youngberg LLC, Sturdivant & Co., TD Securities, Toussaint Capital Partners LLC, and William Blair & Co.
A final company, Williams Capital Group, will work on taxable debt only.
In addition to the co-managing team, the state announced that Advisors Asset Management and Northeast Securities will serve in its selling group pool.
Yesterday’s announcement completes the Treasury Department’s revamping of its investment banking pools. In early August New Jersey formed a 10-member senior managing team and a senior co-managing pool of five firms. Those contracts also last one year and include two possible one-year extensions.
On Sept. 15, the department chose to again renew contracts with its 13 financial advisers. That final term will end on Sept. 12, 2010.