SWBC Investment Services Secures Municipal Bond for the City of Del Rio
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SAN ANTONIO, TX (May 9, 2023) – SWBC Investment Services, LLC, announced it was named Senior Manager and closed on a $25+ Million Tax-Exempt Municipal Bond financing transaction with the City of Del Rio, Texas (Val Verde County). This bond is designated for public improvements.
Issuer: City of Del Rio, Texas
Issue: Combination Tax and Revenue CO, Series 2023
Security Type: Municipal Bond
Tax Treatment: Tax Exempt
Amount $25,175,000
SWBC’s Role: Senior Manager
Sale Type: Negotiated Underwriting
Sale Date: 3/27/2023
Settlement Date: 4/19/2023
Use of Proceeds: Public Improvements
“SWBC was founded in Texas in 1976 and has since been building strong relationships across the Lone Star State,” said John Tuohy, CEO of SWBC Investment Services. “Our public finance business has been a great addition to our already established municipal bond desk. If you're issuing bonds in Texas, we are here, we are local, and you should be talking to us.”
In 2018, SWBC Investment Services launched its municipal underwriting of New Issue Bonds 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, the company has managed over $1 billion of municipal bonds.
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.