City of Pasadena

The City of Pasadena, rated “AAA” by Standard and Poor’s, issued $131.8 million of Pension Obligation Bonds in 2020 to refinance prior pension obligations.  The City saved over $10.9 million over the life of the new bonds with the refinancing.  John Phan, Principal, served as the City’s municipal advisor, while at a prior firm.  John has helped the City and its related entities on 5 financings since 2014.