SWBC Investment Services a Co-Manager for City Public Service of San Antonio (CPS Energy)

BY PR Newswire | MUNICIPAL | 11/28/23 08:00 AM EST

SAN ANTONIO, Nov. 28, 2023 /PRNewswire/ -- SWBC Investment Services, LLC, announced it was named Co-Manager on the City of San Antonio (CPS Energy) Electric and Gas Systems Revenue Refunding Bonds, New Series 2023C.

Arturo Perez, Vice President of Municipal Underwriting for SWBC Investment Services

Issuer: City of San Antonio (CPS Energy)
Issue: Electric and Gas Systems Revenue Refunding Bonds, New Series 2023C
Security Type: Sr Lien ? Electric and Gas System
Tax Treatment: Tax Exempt
Amount: $162,715,000
SWBC's Role: Co-Manager
Sale Type: Negotiated Underwriting
Sale Date: 10/17/2023
Settlement Date: 11/07/2023
Use of Proceeds: Refunding

"SWBC has been a staple in the San Antonio community for nearly 50 years," said Arturo Perez, Vice President of Municipal Underwriting for SWBC Investment Services. "We are proud to work with the syndicate members on another successful transaction for CPS Energy. We believe in our public finance and capital markets teams, and we have confidence that we will continue to deliver."

This bond is a re-financing of existing bonds for savings.

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 nearly $2 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.

SWBC (PRNewsfoto/SWBC)

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SOURCE SWBC

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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