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Debt Management

Overview

Debt Management leads the state's efforts to issue bonds and enter into other financing contracts that support capital construction and transportation projects throughout the state.

Pursuant to state law, the State Finance Committee — comprised of the Governor, Lieutenant Governor and chaired by the Treasurer — authorizes and approves bond sales and financing contracts. The Deputy Treasurer for Debt Management serves as Secretary of the State Finance Committee.

The state's objective is to issue debt at low cost and risk by:

  • Providing for issuance of debt at appropriate intervals and in reasonable amounts that support approved capital expenditures and the state lease/purchase program;
  • Determining the appropriate structure for debt issues;
  • Effectively presenting the state's financial, management, and economic condition to investors and rating agencies;
  • Assuring the state complies with Internal Revenue Service (IRS), Securities and Exchange Commission (SEC), and Municipal Securities Rulemaking Board (MSRB) rules and regulations governing debt issuances; and
  • Refunding debt, as appropriate.

Debt Affordability Study

Debt Management Documents

Bond and Disclosure Counsel

Foster Pepper PLLC
1111 Third Avenue Bldg., Suite 3400
Seattle, WA 98101
Phone: 206.447.8961

Financial Advisors

Montegue DeRose Associates
3100 Oak Road, Suite 210
Walnut Creek, CA 94597

Piper Jaffray & Co.,
Seattle-Northwest Division
1420 Fifth Avenue, Suite 4300
Seattle, WA 98101

Public Financial Management
1200 Fifth Ave., Suite 1220
Seattle, WA 98101

Fiscal Agents

The Bank of New York Mellon- for Bondholder Relations (Bonds and Coupon Redemption)


Bondholder Relations (Payments, transfer, and lost securities):
The Bank of New York Mellon
Corporate Trust Operations
PO Box 2320
Dallas, TX 75201
1.800.438.5473

For delivery by overnight courier:
The Bank of New York Mellon
Corporate Trust Operations
2001 Bryan Street, 9th Floor
Dallas, TX 75201

Bonds and Coupons can also be redeemed at any Wells Fargo branch in the State of Washington

 

The Bank of New York Mellon- For Obligor Relations

Fiscal Agency Unit
101 Barclay Street, 7 W floor
New York, NY 10286
1.800.646.5468
(Debt service, statements, and other inquiries)
(Direct Dial: 1.212.815.5084, x5085, x5092, x5120)

 

Wells Fargo N.A.

Washington Region Administration
999 Third Avenue, 4th Floor
MAC-P6540-045
Seattle, WA 98104
Bondholder Relations: 425.640.5164

Fiscal Agent Statewide Contract dated February 1, 2011

Fiscal Agent Statewide Contract dated February 1, 2015

The State Finance Committee has named U.S. Bank National Association as the successor fiscal agent with an anticipated transition date of February 1, 2015. For additional information.

 

Underwriting Pool

Senior Manager / Co-Manager

Bank of America Merrill Lynch
Barclays Capital
Citigroup Global Markets
J.P. Morgan
Wells Fargo

Co-Manager

D.A. Davidson & Co.
Edward Jones
Fidelity Capital Markets
KeyBanc Capital Markets
Morgan Stanley
RBC Capital Markets
U.S. Bancorp

Contact Information

Deputy Treasurer, Ellen Evans  360.902.9007