Squire Patton Boggs played significant roles in two of the winning deals, “Northeast Region Deal of the Year” and “Non-Traditional Financing Deal of the Year,” recognized by The Bond Buyer at its 2016 Deal of the Year Awards ceremony, held December 1 in New York City.
In the 15th year of the awards program, the editors of The Bond Buyer selected outstanding municipal bond transactions for special recognition. The 2016 awards, which considered deals that closed between October 1, 2015, and Sept 30, 2016, drew nominations that represent the full diversity of the communities and public purposes that are served by the municipal finance market.
The New York Transportation Development Corporation’s public-private partnership (P3) to help fund a US$4 billion redevelopment of LaGuardia Airport’s Terminal B facility earned the designation “Northeast Region Deal of the Year.” According to The Bond Buyer, “at US$2.4 billion, it is the largest US P3 to date, the largest airport transaction in history and the largest alternative minimum tax transaction ever brought to market.” Squire Patton Boggs served as co-bond counsel to the conduit bond issuer, the New York Transportation Development Corporation, with D. Seaton and Associates, P.A., P.C.
The District of Columbia Water and Sewer Authority's (DC Water) US$25 million issuance of the nation's first Environmental Impact Bonds (EIB) to fund the initial green infrastructure project in its DC Clean Rivers Project was awarded “Non-Traditional Financing Deal of the Year.” The US$2.6 billion program is designed to control stormwater runoff and improve the District’s water quality. Modeled on social impact bonds, this deal offers a new type of financial instrument to fund environmental capital projects. Squire Patton Boggs served as bond counsel to DC Water.
Squire Patton Boggs has been a nationally recognized bond counsel firm in the US since the beginning of the 20th Century, and is consistently ranked by an affiliate of Thomson Reuters among the top bond, disclosure and underwriter counsel firms in the country. The firm’s Public & Infrastructure Finance Practice is also highly recommended by Chambers, U.S. News & World Report Best Law Firms and The Bond Buyer.