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Item 23 - Pension Debt Refinancing Update and Underwriter Selection
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Item 23 - Pension Debt Refinancing Update and Underwriter Selection
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City Clerk
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Agenda Packet
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Clerk of the Council
Item #
23
Date
5/18/2021
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Contact <br />Background <br />Holly Vocal <br />Role: Primary Contact <br />Managing Director <br />Experience: Ms. Vocal has 17 years of experience in public finance and <br />555 California Street, Suite <br />specializes in state and local government bond issuers. Ms. Vocal has <br />1160 <br />been the principal banker over 150 financings totaling over $12 billion in <br />San Francisco, CA 94104 <br />par. She works on all aspects of project generation and public finance <br />(415) 913-2327 <br />including capital planning, bond structuring and credit analysis. Ms. Vocal <br />holly.vocal@bofa.com <br />has specialized knowledge in developing comprehensive financing plans <br />to address the needs of issuers, culminating with the structuring and <br />issuance of bonds. Ms. Vocal has worked with large California issuers such <br />as the State of California itself as well as California local agency clients. <br />Recently, Ms Vocal served as lead or co -lead banker on pension financings <br />for the cities of Azusa and Downey. <br />Background: B.A. — University of California, Berkeley <br />Jeff Bower <br />Role: Secondary Contact <br />Managing Director <br />Experience: Mr. Bower rejoined BofA in mid-2008 from <br />333 S. Hope Street, Suite <br />UBS/PaineWebber where he had worked for the prior 11 years. During <br />3820 <br />his public finance career he has senior managed over $35 billion for <br />Los Angeles, CA 90071 <br />issuers in California, Hawaii, Arizona, Nevada and Washington. Mr. Bower <br />(213) 345-9580 <br />has extensive California taxable, tax-exempt and pension obligation bond <br />jeffrey.bower@bofa.com <br />financing experience with issuers including the counties of Los Angeles, <br />Riverside, Sacramento, San Bernardino and San Diego, as well as the cities <br />of Anaheim, Los Angeles, Fresno, Long Beach, Manhattan Beach and San <br />Jose. <br />Background: B.A. — Dartmouth College; M.B.A. — University of California, <br />Los Angeles <br />Jorge Rodriguez Role: Pension Specialist <br />Managing Director Experience: Dr. Rodriguez has over 17 years of experience in public finance <br />One Bryant Park, 12th and securitization. He leads BofA's Municipal Banking and Markets <br />Floor quantitative efforts in the areas of pension funding, pension benefit modeling, <br />New York, NY 10036 unemployment insurance financing, tobacco securitizations and cash flow risk <br />(646) 743-1362 management. In the past year, Dr. Rodriguez has been involved in the <br />j.rodriguez@bofa.com structuring of over $1 billion in pension obligation bonds. Recently, Dr. <br />Rodriguez has served as lead banker for the Government of Puerto Rico's <br />liability management transactions under Title III and Title VI of PROMESA. Dr. <br />Rodriguez managed the first Title III Plan of Adjustment exchange for the <br />Puerto Rico Sales Tax Financing Corporation (COFINA) creating the analytical <br />tools necessary to successfully exchange $17.6 billion of outstanding bonds <br />into the new $12 billion COFINA securitization structure and execute one of <br />the most complex municipal transactions in history involving over 7,000 <br />investors, including retail, traditional municipal, hedge funds and monoline <br />insurance providers. <br />Background: Ph.D. — MIT Sloan School of Management; B.S. — Massachusetts <br />Institute of Technology <br />BofA SECURITIES ��IV- <br />
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