BNP Paribas Acts as Lead Arranger and Bank Agent for California Infrastructure and Economic Development Bank's Bay Area Toll Bridges Seismic Retrofit Commercial Paper Program.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Calif. -- BNP Paribas announced today that it acted as the Lead Arranger Lead arranger The senior tier of arranger and Bank Agent of a 3-bank syndicate providing credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing and liquidity support through the California Infrastructure and Economic Development Bank (I-Bank) for the California Department of Transportation's ("Caltrans") $400,000,000 Bay Area Toll Bridges Seismic Retrofit Commercial Paper Program ("CP Program"). The CP Program represents the second series of Bay Area Toll Bridges Seismic Retrofit financing; the first $1.16 billion fixed-rate series first lien bonds were sold in August 2003. The Debt is secured by Seismic Retrofit Surcharge revenues from the state-owned toll bridges in the Bay Area. Kelly Fowler, Managing Director and Head of Public Finance at BNP Paribas said, "This is another significant transaction for us. It clearly shows that our clients recognize the Bank's expertise and execution strength which allowed us to arrange and negotiate documentation with a 3-bank syndicate." BNP Paribas has been active in the U.S. Municipal Bond Market for over 10 years. BNP Paribas offers U.S. municipalities a variety of tax-exempt credit and capital market products including credit enhancement and liquidity support, tax-exempt derivatives, and municipal depository and cash management services (through BNP BNP B-type natriuretic peptide, brain natriuretic peptide Physiology A 32-residue peptide hormone produced predominantly in the ventricles, secreted in response to fluid overload–eg, CHF. See Atrial natriuretic peptide. Paribas' wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Bank of the West). BNP Paribas also runs and manages a Tender Option Bond Program. About BNP Paribas BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United Sates and leading positions in Asia. The most profitable bank in the Euro zone, it has a presence in 85 countries with 89,400 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking. BNP Paribas provides a full array of financial products through a portfolio of brands that cover a variety of distribution channels. With offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , BNP Paribas in North America offers a broad range of corporate, investment banking and securities brokerage activities. With locations in all the major corporate and financial centers across the United States and Canada, BNP Paribas in North America serves a world-class client base of multinational corporate and mid-cap companies, major issuers and institutional buyers. As a registered NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). broker-dealer and member of SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , BNP Paribas Securities Corp. trades and markets a vast array of global and domestic fixed income and equity products |
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