Firm Serves as Bond Counsel, Disclosure Counsel in US$900 Million Bond Financing for the Metropolitan Washington Airports Authority

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    Squire Patton Boggs has served as bond counsel and disclosure counsel to the Metropolitan Washington Airports Authority (MWAA), the operator of Reagan National Airport and Dulles International Airport, on its revenue and refunding bond issuances, consisting of Series 2021A and Series 2021B Bonds, which closed on July 8, 2021. The financing will be used to provide funds to MWAA for capital projects, including the continued construction of “Project Journey” at Reagan National Airport, refinancing of existing debt and the payment of swap termination payments.

    This transaction is noteworthy not only for its scale, but for its complexity with regard to the sophistication of tax law issues presented and worked through to maximize savings for MWAA.

    The firm’s team was led by partners Catie Romanchek (Cleveland), Luis Reiter (Miami), J.R. Clark (Washington D.C.) and Johnny Hutchinson (Houston), and associates Taylor Klavan (Houston) and Ben Tobias (Columbus).

    Squire Patton Boggs has served as bond counsel and disclosure counsel to MWAA since 2014 and the firm’s history with MWAA dates back to the late 1980’s and early 1990’s when the firm served as co-underwriters’ counsel on over US$1.4 billion of initial program junior- and senior-lien airport revenue bonds issued by MWAA for the improvement of the airports.

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