Learn about District of Columbia (Washington, DC) including our News & Press Releases and Team.
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Learn about District of Columbia (Washington, DC) including our News & Press Releases and Team.
About District of Columbia (Washington, DC)
- Est. 2024 Population
- 702,250
- General Obligation Bond Ratings
- Aaa/AA+/AA+
- Income Tax Secured Revenue Bond Ratings
- Aa1/AAA/AA+
This is the official investor relations page for the District of Columbia (“the District”). The Office of the Chief Financial Officer (OCFO) handles all of the District’s debt financing needs, including its communication with bond investors.
About Washington, DC
The District was created in 1791 by an act of the United States Congress and Presidential proclamation and has served as the capital of the United States since 1800. Since January 1975, the District has been governed under the District of Columbia Home Rule Act, which gave residents more autonomy over local affairs. Under the Home Rule Act, the District is governed by an elected Mayor and an elected Council.
The executive and legislative powers and duties of the District government are comparable to those held by states, counties and cities throughout the United States. However, Congress reviews all legislation passed by the Council before it can become law and retains authority over the District’s budget. With the exception of the payment of debt service on District debt, the District may not obligate or expend funds absent annual Congressional appropriation.
The District is a unique governmental entity, combining state, county, and municipal characteristics. Functions performed by the District government include public safety, police, fire, corrections, consumer and business regulatory affairs, public works (highways, streets and traffic control and sanitation), human services (health, welfare and employment assistance), leisure services (recreation and libraries), economic development (planning, zoning, urban renewal and housing), public education and general administration. The District and its instrumentalities also operate a university, a hospital, a stadium and armory complex, a convention center, a housing finance agency and a lottery.
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News
Read the letter from the CFO to the Mayor and Council Chairman regarding the December 2025 quarterly revenue estimates.
VOLUNTARY NOTICE OF POTENTIAL TENDER OFFER AND/OR REFUNDING AND NEW MONEY TRANSACTIONS
Relating to various series of
DISTRICT OF COLUMBIA
(Washington, D.C.)
General Obligation Bonds,
Series 2026A
General Obligation Refunding Bonds, Series 2026B
Multimodal General Obligation Bonds, Series 2026C
(Variable-Rate Remarketed Obligations)
The District of Columbia (the “District”) is evaluating the potential issuance of one or more series of tax-exempt General Obligation Bonds, General Obligation Refunding Bonds, and Multimodal General Obligation Bonds (the “Series 2026A Bonds,” the “Series 2026B Bonds,” and the “Series 2026C Bonds,” respectively, and collectively referred to herein as the “Bonds”), at one or more times, through negotiated sales through a syndicate led by Barclays Capital Inc. (“Barclays”). The Series 2026A Bonds and the Series 2026B Bonds are expected to price on or around February 10, 2026 and close on or around March 3, 2026. The Series 2026C Bonds are expected to price on or around February 26, 2026 and close on or around March 3, 2026.*
The District expects to release concurrently the Preliminary Official Statement for the Series 2026A Bonds and the Series 2026B Bonds with the Preliminary Official Statement for the Series 2026C Bonds. Both Preliminary Official Statements are expected to be available on or around January 20, 2026.*
The potential issuance of the Bonds described above is referred to herein as the “Potential Transaction.” The District is under no obligation to pursue any transaction or any particular structure and reserves the right to change or modify its plans as it deems appropriate. No assurance is given that all or any part of the Potential Transaction will occur. The Potential Transaction, if pursued, maybe discontinued at any time.
The proceeds of the Series 2026A Bonds, if issued, will be used, together with other funds of the District, to (1) pay or reimburse the District for capital project expenditures under the District’s Preliminary, subject to change capital improvements plan, (2) refund a portion of the District’s outstanding District of Columbia General Obligation Commercial Paper Bond Anticipation Notes, Series 2025AB (the “Refunded
C.P. Notes”), and (3) pay the costs and expenses of issuing and delivering the Series 2026A Bonds.
The proceeds of the Series 2026B Bonds, if issued, will be used, together with other funds of the District, to (1) purchase and cancel all or a portion of certain series of the District’s outstanding General Obligation Bonds, as listed below (the “Target Tendered Bonds”), by means of a tender offer (the “Tender Offer”) pursuant to the terms of an invitation to tender (the “Invitation”) expected to be issued simultaneously with the Preliminary Official Statement for the Series 2026A Bonds and the Series 2026B Bonds, (2) pay the costs and expenses of the Tender Offer, (3) refund all or a portion of certain series of the District’s outstanding General Obligation Bonds, as listed below (the
“Target Refunded Bonds”), and (4) pay the costs and expenses of issuing and delivering the Series 2026B Bonds.
The Target Tendered Bonds being considered for purchase may include all or a portion of the District’s outstanding:
• General Obligation Bonds, Series 2016D
• General Obligation Refunding Bonds, Series 2016E
• General Obligation Refunding Bonds, Series 2017A
• General Obligation Bonds, Series 2017D
The Target Refunded Bonds* being considered for redemption may include all or a portion of the District’s outstanding:
• General Obligation Bonds, Series 2015A
• General Obligation Bonds, Series 2016A
• Multimodal General Obligation Refunding Bonds, Series 2017C
• Multimodal General Obligation Refunding Bonds, Series 2021A
The proceeds of the Series 2026C Bonds, if issued, will be used to (1) pay or reimburse the District for capital project expenditures under the District’s capital improvements plan, (2) refund a portion of the Refunded C.P. Notes, and (3) pay the costs and expenses of issuing and delivering the Series 2026C Bonds.
The District is not obligated to pursue or complete the Potential Transaction and may
discontinue or postpone all or any part of the Potential Transaction at any time for any reason without notice. The issuance of the Bonds is subject to market conditions and other considerations the District deems appropriate. No assurance is given that any of the Bonds will be issued, or that any of the outstanding indebtedness of the District will be refunded or purchased, whether in whole or in part.
This notice does not constitute a recommendation or an offer or solicitation for the purchase or sale of any security or other financial instrument, including the Bonds, or to adopt any investment Preliminary, subject to change.strategy. Any offer or solicitation with respect to the Bonds will be made solely by means of the final Official Statement relating to such Bonds, which will describe the actual terms of the Bonds.
This notice is being made on a voluntary basis and is not required by the terms of any
continuing disclosure undertaking under SEC Rule 15c2-12 to which the District is a party. By giving this voluntary notice, the District is not undertaking to update this notice in any respect or to give any similar voluntary notice in the future, except as may be required by any applicable law. The District does, however, reserve the right to give similar voluntary notices in the future.
Additional Information Regarding the Target Tendered Bonds
Barclays and Siebert Williams Shank & Co., LLC, are expected to serve as co-dealer
managers (the “Co-Dealer Managers”) to the District in connection with the Tender Offer. The Tender Offer, if issued, for any of the Target Tendered Bonds will be made solely pursuant to the Invitation facilitated by the Co-Dealer Managers. It is expected that Globic Advisors Inc. will serve as the Information and Tender Agent in connection with the Tender Offer.
Any transactions related to the Tender Offer, and the size and timing of any transaction
related to the Tender Offer are subject to, among other things, a variety of key factors, including approval by the District, market conditions, the availability of attractive refinancing arrangements, the terms on which owners of the Target Tendered Bonds are willing to transact with respect to their Target Tendered Bonds, and other factors which cannot be predicted.
Additional Information Regarding this Voluntary Notice
This voluntary notice does not constitute (i) a notice of any tender and/or refunding for any Target Tendered Bonds, or (ii) an offer to sell or the solicitation of an offer to buy any new bonds, nor will there be any offer of any tender and/or refunding of any Target Tendered Bonds, or the sale of any new bonds by any person in any jurisdiction in which it is unlawful for such person to make an offer, solicitation, or sale.
The publication of this voluntary notice does not constitute orimply any representation (i) that the information provided herein is material to an investor’s decision to buy, sell or hold the Target Tendered Bonds or any other securities of the District; (ii) regarding any other financial, operating or other information about the District or any other securities of the District; or (iii) that no other circumstances or events have occurred or that no other information exists concerning the District, the Target Tendered Bonds or any other securities of the District which may have a bearing on the financial condition of the District, the security for the Target Tendered Bonds or any new bonds which may be issued by the District or any other securities of the District, or the federal or state tax consequences of any such potential transactions, or an investor’s decision to buy, sell or
hold the Target Tendered Bonds or any new bonds which may be issued by the District.
Dated: December 23, 2025
The Office of the Chief Financial Officer has released its 2025 Long-Range Capital Financial Plan Report. The report looks at the District’s current assets, their condition, future capital needs, and funding availability to develop a long-range plan to address all identified capital needs of the District in the shortest possible time period.
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Talk to us
Have questions? Reach out to us directly.