Morgan Keegan is an active underwriter of utility bonds, both on a negotiated basis and at competitive sale. Since 2000, the firm has underwritten almost 700 utility issues totaling over $19.7 billion par amount.
Morgan Keegan was involved in the first-ever bond issue by a public utility for the prepayment of electricity. This $1.5 billion bond issue was being executed by the City of Memphis to purchase electricity over a 15-year period at a discount from Tennessee Valley Authority, the City’s sole supplier.
Other representative utility clients of Morgan Keegan include:
- Nashville Electric System (Tennessee)
- North Dakota Rural Water Finance Authority
- Wisconsin Rural Water Construction Loan Program Commission
- North Carolina Eastern Municipal Power Agency
- Shreveport, Lousiana
- Jefferson County, Alabama
- Mississippi Development Bank
