Stephens Spotlights
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We are committed to bettering the communities where we live and operate. We do this by supporting corporate philanthropy, economic and financial literacy advocacy, and professional success.
Stephens is proud to sponsor the PGA TOUR, LPGA Tour, and PGA TOUR Champions careers, as well as applaud the philanthropic endeavors, of our Brand Ambassadors.
Stephens is the official investment banking partner of Williams Racing, one of the most winning teams in F1 history. We share that tradition of success.
We host many highly informative meetings each year with clients, industry decision makers, and thought leaders across the U.S. and in Europe.
Stephens can help finance education projects for K-12, colleges, and universities—including facility upgrades, classroom technology, student housing, and resources for teachers and staff.
Stephens can help finance medical facility projects, tech upgrades, and accessibility improvements for hospitals, including single specialty, general acute care, and children’s hospitals.
Stephens can help finance Public Safety projects supporting first responders, including fire, police, EMT services, and correctional facilities, to enhance emergency response and public protection.
Stephens can help finance recreation projects of all sizes—parks, arenas, convention centers, and more—to enhance community life at city, county, and state levels.
Stephens can help finance transportation projects of all sizes—from crosswalks to airports—supporting commerce and community connection through roads, bridges, railways, ports, and more.
Stephens can help finance utility projects—water, sewer, electric, broadband, and more—supporting essential services with a solutions-focused approach to ESG risks for community infrastructure.
Stephens Spotlights
Pulaski County, Arkansas, issued $128.15 million of Hospital Revenue Bonds to provide funds needed for improvements to Arkansas Children's Hospital (ACH).
Our relationship with ACH dates back to 1980. Since that time, Stephens has served as either Manager or Co-Manager on 11 financings totaling over $556 million in par amount of bonds. The Stephens Public Finance team’s track record of consistent success on these transactions, and responsiveness to ACH between transactions, led to our serving as Sole Managing Underwriter on this issuance.
Proceeds from the bonds are being used for improvements on the campus of the Little Rock Hospital. Major project components include a new outpatient building, repurposing of the existing Sturgis Building, a new main entry and Sturgis Building Gallery, renovations for inpatient space, and an Acute Crisis Unit as an addition to the existing building.
Jack Truemper, Senior Vice President in Stephens Public Finance, served as the lead banker for the firm. Stephens successfully priced tax-exempt bonds to raise funds for the hospital improvements. The bonds were rated A1 by Moody’s Investor Service and AA- by S&P Global Ratings.
The revenue securing the bonds consisted of gross revenues of ACH with additional security guaranty agreements by Arkansas Children’s, Inc., ACH, Arkansas Children’s Northwest, and Arkansas Children’s Hospital Foundation, Inc.
Stephens Private Client Group and Stephens Fixed Income Sales team did an excellent job of generating investor interest. Stephens generated over $1.2 billion in total orders – over 9x oversubscribed – during a 3.5 hour order period. Multiple institutional accounts placed orders for the majority of the issue.
Based upon the successful pre-marking of the bonds and the actual amount of orders received on the pricing date, the interest rate on the bonds was reduced from the initial pricing, benefiting ACH approximately $1.8 million in the process.