Case Study: City of Ontario, Calif., Taxable Pension Obligation Bonds

$239 million POB issuance successfully launched on May 12, 2020

The City of Ontario, Calif., needed a solution to address the unfunded accrued liability (UAL) of the City’s safety police fund and safety fire fund. They faced the additional challenge of bringing a transaction to market in a difficult economic environment driven by the ongoing impact of the COVID-19 pandemic. HilltopSecurities partnered with the City of Ontario to structure a $239 million Pension Obligation Bond (POB) issuance which was successfully launched on May 12, 2020.

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