The state treasurer’s office has announced its new underwriting and financial adviser pools.
The Washington state government hasn’t issued bonds on a negotiated basis since 1997, but Treasurer James McIntire sought underwriters with an eye to issuing Build America Bonds.
“This is all part of our laying the groundwork for using the federal stimulus funding in Washington state,” said McIntire’s spokesman, Chris McGann. “Treasurer McIntire believes the Build America Bonds could offer significant savings in certain circumstances.”
Bank of America-Merrill Lynch, Goldman, Sachs & Co., and JPMorgan were chosen for the senior underwriting pool, along with nine other investment banks chosen for the co-manager pool.
Following a separate request for proposals, the treasurer’s office has also expanded its ranks of financial advisers, with KNN Public Finance and Public Resources Advisory Group joining incumbents Seattle-Northwest Securities Corp., DashenMusselman Inc., and Montague DeRose and Associates.
The BAB issuance is expected soon, McGann said yesterday.
“We did a request for proposals yesterday to our senior underwriters in the group, and we’ll get our response from them by next week,” he said. “We’re definitely gearing up.”