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Dynda A. Thomas
Partner
Dynda Thomas has had leading roles in structuring and negotiating project finance transactions for energy projects. She has served as sponsor’s, borrower’s and agent’s counsel in numerous transactions, and has acted as trustee’s counsel in commercial trust matters. Dynda has also worked on financings for public companies, project finance transactions, tax equity, back-leverage and securitization transactions. She has represented sponsors, borrowers and guarantors in financing the development, acquisition, construction and operation of numerous wind, solar, fuel cell and biorefinery projects. Such financings have included recourse and nonrecourse project financings of single project and portfolio facilities.
Dynda also focuses a significant portion of her practice on conflict minerals, responsible sourcing and supply chain transparency. She offers a rare combination of in-depth knowledge and real-world experience across many industry sectors. She helps organizations analyze legal requirements, develop and implement due diligence procedures, and draft reporting and disclosure – all while being mindful of the various compliance and disclosure risks associated with such efforts. Dynda created and leads the firm’s Conflict Minerals team and is the founder of and contributor to the firm’s Conflict Minerals Law blog. She focuses on best practices across industries to provide efficient, effective counseling, which includes supply chain investigations and undertaking enterprise risk analysis around responsible sourcing issues.
Dynda is a past chair of the American Bar Association’s Infrastructure and Regulated Industries Section. Dynda was named to the Top 20 Assent Compliance’s Top 100 Conflict Minerals Influence Leaders List for 2017, and she has been recognized as an Ohio Super Lawyer in Law & Politics magazine continuously since 2007. She was also recognized in The Best Lawyers in America for 2023 for Energy Law.
Dedicated Rate Securitizations
- Representing the financial advisor to the state public utilities commission in a US$445 million phase-in-recovery bond securitization transaction in Ohio.
- Advising sponsor as local counsel in a US$267 million phase-in-recovery bond securitization transaction in Ohio.
- Representing corporate municipal instrumentality as disclosure counsel in a US$2 billion restructuring bond securitization transaction in New York.
- Representing corporate municipal instrumentality as disclosure counsel in a US$1 billion restructuring bond securitization transaction in New York.
- Representing corporate municipal instrumentality as disclosure counsel in a US$381 million restructuring bond securitization transaction in New York.
- Representing corporate municipal instrumentality as disclosure counsel in a US$469 million restructuring bond securitization transaction in New York.
- Representing underwriters in a proposed improvement charge securitization transaction to finance the undergrounding of District of Columbia electric power distribution lines (transaction abandoned).
Project Finance
- Representing the sponsor and borrower in a US$109 million portfolio project finance transaction for solar energy facilities in Minnesota and New Mexico for an aggregate of 132 MW.
- Representing the sponsor in a US$400 million tax equity financing transaction for wind power generation projects in Oklahoma and Texas for an aggregate of 450 MW.
- Representing the sponsor in a US$295 million tax equity financing transaction for a wind power generation project in North Dakota for an aggregate of 150 MW.
- Representing the sponsor and borrower in a US$241 million portfolio project finance transaction for wind power generation projects in Illinois, Iowa and New Mexico for an aggregate of 520 MW.
- Representing the sponsor and borrower in a US$283 million portfolio project finance transaction for wind power generation projects in Iowa, Kansas and Michigan for an aggregate of 299 MW.
- Representing the sponsor and borrower in a US$400 million portfolio project refinancing transaction for wind power generation projects in Iowa and North Dakota for an aggregate of 309 MW.
- Representing the sponsor and borrower in a US$176 million portfolio project refinancing transaction for wind power generation projects in Iowa and North Dakota for an aggregate of 298 MW.
- Representing the sponsor and borrower in a CDN$190 million project financing of a wind power generation project in Ontario, Canada, for an aggregate of 72.9 MW.
- Representing the sponsor and borrower in a CDN$170 million project financing of a wind power generation project in Ontario, Canada, for an aggregate of 59.9 MW.
- Representing the sponsor and a different borrower in a CDN$170 million project financing of a wind power generation project in Ontario, Canada, for an aggregate of 59.9 MW.
- Representing the sponsor and borrower in a CDN$170 million construction-to-term loan facility to finance a wind power generation project in Ontario, Canada.
- Representing the sponsor and borrower in connection with CDN$238 million senior secured credit facility (portfolio financing of 122 MW wind energy facilities in Canada).
- Representing the sponsor and borrower in a CDN$180 million back-leverage bank financing into a tax equity financing structure owing a wind power generation project in Oklahoma.
- Representing the sponsor and borrower in a US$135 million portfolio project refinance transaction for wind power generation projects in Washington, Oregon, and North Dakota.
- Represented the sponsor and borrower in a private placement in Canada and the US of US$173 million senior secured amortizing notes. The proceeds of the notes financed the acquisition of two project companies that own and operate four solar photovoltaic energy production facilities in Canada with a total capacity of 40 MW. Named Project Finance’s 2012 North American Bond Deal of the Year.
- Representing the sponsor in a project financing of two wind power generation projects in Oklahoma for an aggregate of 160 MW.
- Representing the sponsor and borrower in a private offering of more than CDN$315 million senior secured notes to finance two Canadian wind power generation projects for an aggregate of 147 MW.
- Representing the sponsor in a project financing of a 75 MW wind power generation project in Nebraska.
- Representing the sponsor and borrower in a US$23 million back-leverage bank financing into a tax equity financing structure owning a wind power generation project in Nebraska.
- Representing the sponsor and borrower in a US$44 million back-leverage bank financing into a tax equity financing structure owning two wind power generation projects in Texas.
- Representing the sponsor and borrower in a US$140 million back-leverage bank financing into a tax equity financing structure owning a wind power generation project in Colorado.
Corporate Finance and Notes Offerings
- Representing the borrower in a US$400 million credit facility relating to a high-speed fiber-optic network business.
- Representing the borrower in a ¥55 billion term loan facility made available by a syndicate of Japanese banks.
- Representing the issuer of US$360 million senior secured notes secured by over 300 miles of open-access transmission lines in Texas.
- Representing trustee and collateral agent in transactions involving an issuance of US$540 million first lien notes and the exchange of US$675 million in senior secured notes for US$544 million new second lien senior secured notes.
- Representing trustee and collateral agent in transactions involving the exchange of US$512 million in senior secured notes for US$218 million in new 1½ lien notes.
- Representing financial institution as corporate trustee and collateral agent in multiple financings for financial services borrower.
Education
- University of Cincinnati, J.D., editor, The University of Cincinnati Law Review, editor, Human Rights Quarterly, 1986
- Urban Morgan Institute for Human Rights, Human Rights Fellow, 1986
- Miami University, B.A., magna cum laude, 1982
Admissions
- Ohio, 1986
Memberships and Affiliations
- Budget Officer and a Vice Chair of the Infrastructure Finance, Mergers and Acquisitions Committee of the American Bar Association’s (ABA) Public Utility, Communications and Transportation (PUCAT) Law Section, having also spent one year as chair of the Program Committee and three years as the co-editor of the Section’s newsletter
- Member, Cleveland Metropolitan Bar Association
- Recognized in The Best Lawyers in America 2023 for Energy Law
- Named by Corporate Responsibility Magazine Among its 2017 CR Superstars
- Named to the Top 20 Assent Compliance’s Top 100 Conflict Minerals Influence Leaders List for 2017
- “Conflict minerals – light at the end of the tunnel?”, African Law and Business.