City of Corpus Christi Successfully Issues General Improvement Bonds for $115 Million of Voter-Approved Projects
Transaction led by Siebert Williams Shank funds enhanced infrastructure improvements for public safety, streets, parks, & library
CORPUS CHRISTI, TX – The City of Corpus Christi has secured $115 million in funding to support a range of community improvements, including upgrades to public safety services, streets, parks and recreation facilities, and library improvements through the issuance of the General Improvement Bonds, Series 2026 transaction that priced on Tuesday, June 16, 2026.
The City received strong interest from investors when securing this funding which helped the City obtain favorable borrowing terms. Specifically, the City originally budgeted for an interest rate of 5.00%, but due to strong investor demand, the final interest rate for the debt issuance was secured at 4.15%. As a result, the City was able to keep borrowing costs low, helping to manage the long-term impact on taxpayers.
These projects were approved by voters through the City’s bond elections in November 2022 and November 2024. The funding will allow the City to move forward with these improvements and continue investing in infrastructure that supports residents and our neighborhoods.
“The strong, positive result of this successful bond sale, is a reflection of investor confidence in our City’s leadership management team and prudent fiscal management practices,” said Peter Zanoni, City Manager of the City of Corpus Christi. “Amid a prolonged and difficult drought in South Texas, we were still seen by investors as a strong, viable city committed to advancing important infrastructure enhancements that will improve our city’s quality of life.”
“This financing reflects the City’s thoughtful approach to moving forward with voter-approved projects,” said Victor Quiroga, Jr., Managing Director at Specialized Public Finance Inc. “Our role was to help position the City to achieve favorable terms while maintaining long-term financial stability.”
“Siebert Williams Shank is proud to have partnered with leadership of the City of Corpus Christi to achieve a successful outcome that truly reflects the city’s strong commitment to its residents and infrastructure,” said Jacquelyn Cunningham, Senior Vice President at Siebert Williams Shank.
Siebert Williams Shank & Co. LLC served as the transaction’s senior manager, with Jefferies and RBC Capital Markets serving as co-managers. Specialized Public Finance Inc. served as the financial advisor, Norton Rose Fulbright US LLP served as bond counsel to the City and McCall Parkhurst & Horton L.L.P. served as underwriter’s counsel for the transaction.
