MEMPHIS, Tenn. (January 25, 2007) — For the 14th consecutive year, Morgan Keegan & Co. Inc. was the top underwriter for municipal bond issues in the South Central U.S. in 2006, according to Thomson Financial. The firm managed 209 offerings with a par value of $4.2 billion for the South Central Region, which was enough to capture a 15 percent market share and the No. 1 ranking for the region that includes Alabama, Arkansas, Kentucky, Louisiana and Mississippi.
Overall, Morgan Keegan was the book-running manager of 445 issues with a par value of over $8.6 billion, making them 11th largest lead underwriter in the country for 2006. The firm’s performance in the South Central Region includes:
- Alabama: Ranked #1 as underwriter of 19 municipal bond issues with a par value of $668 million.
- Louisiana: Ranked #1 as underwriter of 48 municipal bond issues with a par value of $1.5 billion.
- Tennessee: Ranked #1 in terms of number of issues as underwriter of 50 municipal bond issues with a par value of $1.2 billion.
- Georgia: Ranked #1, in terms of number of issues, as underwriter of 18 municipal bond issues with a par value of $358 million.
- Texas: Ranked #1 as underwriter of 161 tax-exempt bond issues, full credit to each manager, with a par value of $8 billion, and ranked #8 in full credit to book running manager.
- Mississippi: Ranked #2 as underwriter of 25 municipal bond issues with a par value of $376 million.
- Kentucky: Ranked #2 in terms of number of issues as underwriter of 35 issues with a par alue of $190 million.
- Arkansas: Ranked #2 as underwriter of 32 municipal bond issues with a par value of $318 million.
- Virginia: Assisted issuers, as manager or financial advisor, on 35 municipal bond issues with a total par value of more than $1 billion. In addition, Morgan Keegan was the #1 underwriter of negotiated transactions in the state for the five-year period ended Dec. 31, 2006, with 97 senior managed issues with a par value of $2.975.
Furthermore, Morgan Keegan continued to extend its reach beyond the South Central Region. In terms of number of issues written, the firm was ranked #1 in the Southeastern United States, a 10-state area that includes Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Also, Morgan Keegan was ranked 4th in par value in the Southwest region of the country, an area that includes Texas, Arizona, Oklahoma, New Mexico and Louisiana.
“Providing issuers with innovative solutions to often complex financing needs remains a primary focus for our firm,” said Robert A. Baird, executive managing director at Morgan Keegan and head of the firm’s Fixed Income Banking Group. “We value the strong and enduring relationships established with our clients throughout the South Central region, and our continued goal is to exceed their expectations.”
Headquartered in Memphis, Tenn., Morgan Keegan is one of the largest regional full-service brokerage and investment banking firms, with over 4,000 employees providing services in some 300 offices. The firm’s staff of more than 100 public finance professionals provides underwriting services through 19 banking offices in 11 states. The banking division is active in a wide variety of financings including higher and secondary education, state and local government, multi-and single-family housing, health care, airports, taxable banking issues and credit tenant leases.
Morgan Keegan & Company Inc. is the securities brokerage subsidiary of Regions Financial Corporation (NYSE: RF). Additional information about Morgan Keegan and Regions – a member of the S&P 100 Index and one of the nation’s top 10 financial services providers – can be found at www.morgankeegan.com and www.regions.com.
