Transaction Details

City of Hendersonville

Municipal

Lead Bookrunner

The City of Hendersonville, located in western North Carolina, is a vibrant and historic community nestled in the Blue Ridge Mountains. As the county seat of Henderson County, the city is anchored by a strong mix of healthcare, tourism, and light manufacturing industries. Hendersonville benefits from its proximity to Asheville and other regional employment hubs, while maintaining its own vibrant downtown, quality schools, and access to outdoor recreation. Ongoing investments in infrastructure, housing, and public amenities support the city’s continued growth.

On July 16, 2025, Baird served as sole managing underwriter to the City of Hendersonville, North Carolina (the “City”) on its $10,025,000 Water and Sewer System Revenue Bonds, Series 2025 (the “Bonds”). Proceeds from the Bonds will be used to support various improvements to the City’s Water and Sewer System. The Bonds were rated Aa3 and structured with a final maturity in 2045, spanning 20 years.

The Bonds were well received in the market, particularly given that this was the City’s first time issuing under this credit. The offering attracted participation from 26 unique investors, with strong demand for the 2043 and 2045 maturities, which were nearly 7 and 9 times oversubscribed, respectively. Due to this demand, pricing on those longer terms was improved by 7 to 9 basis points. Earlier maturities saw moderate interest, with subscription levels ranging from 1.5 to 3.5 times oversubscribed. Overall, the transaction was smooth and successful, with both the City and its municipal advisor pleased with the outcome.