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Public Finance
The Banking, Finance and Major Projects Practice Group acts as counsel to local and foreign banks (primarily as credit enhancer, liquidity provider or trustee), corporate borrowers, bond insurers and purchasers, as well as bond counsel, underwriter's counsel, and special tax counsel in public finance/municipal finance transactions. The Group provides advice on, negotiates and documents a wide variety of public finance transactions, both primary and secondary, taxable and tax-exempt, including:
- General obligation note and bond financings
- Limited obligation lease financings
- Economic redevelopment and private activity bond financings
- Tax and revenue anticipation note financings
- Certificate of participation financings
- Equipment lease pool financings
The Banking, Finance and Major Projects Practice Group also acts as counsel to investors (primarily money market and bond mutual funds) in connection with the purchase of both taxable and tax-exempt derivative and structured financial products, including floaters/inverse floaters, trust certificates representing interests in bonds and liquidity or credit enhancement devices, and stocks and bonds coupled with interest rate and equity swaps. The Group, together with practitioners from other practice groups, provides advice on all aspects of these products, including tax, securities, and bankruptcy law issues, and assists our clients in the drafting and negotiation of the documentation for these products. In addition, the Group advises investment banks involved in the structuring of both taxable and tax-exempt derivative and structured financial products.
Representative transactions include:
- Representation of the New York branch of a major French bank in connection with $198,000,000 aggregate principal amount of various series of City of Chicago General Obligation Tender Bonds.
- Representation of the Chicago branch of a major French bank in connection with $62,000,000 Illinois Development Finance Authority Variable/Fixed Rate Demand Revenue Notes.
- Representation of the New York branch of a major British bank in connection with $11,400,000 Redevelopment Authority of the City of Milwaukee, Wisconsin Redevelopment Refunding Revenue Bonds.
- Representation of a major U.S. bank in connection with $5,400,000 City of Belvidere, Illinois Variable Rate Demand Industrial Development Revenue Bonds.
- Representation of a construction company in connection with $5,000,000 City of Elgin, Illinois Industrial Development Revenue Bonds.
- Representation of numerous money market funds and other institutional investors in connection with myriad taxable and tax-exempt secondary market structured municipal derivative transactions.
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