We offer a full spectrum of public finance services, including:
– Bond Counsel
– Borrower Counsel
– Underwriter Counsel
– Commercial Bank Counsel
– Issuing Authority Counsel
– Purchaser Counsel
– Corporate Trustee Counsel
We are nationally recognized bond counsel. Our bond opinions form the basis on which investors rely in purchasing tax-exempt bonds.
We assist first time and experienced borrowers throughout the United States in issuing their bonds. Our borrowers include government entities, healthcare providers, educational and cultural institutions, nursing care and senior living providers, social service agencies and student loan programs. We work with our borrowers’ governing bodies and their finance teams on corporate authorizations, fund raising issues, tax and securities law matters (including initial and continuing disclosure issues), real estate and construction issues, interest rate swaps and the structuring of their bond issues.
We represent underwriters and investment bankers nationally in public and private placements, preparing offering and other disclosure documents, bond purchase agreements and providing counsel on disclosure and securities law matters.
Commercial Bank Counsel
We serve as counsel to commercial banks issuing letters of credit, standby bond purchase agreements and interest rate swaps. We also represent banks purchasing bonds directly from an issuer. We prepare all documents and attend to all security issues (including the tax issues relating to security for bond issues) on behalf of our commercial banking clients.
We advise issuing authorities on issues affecting their relationships with their borrowers (including disclosure and compliance issues) as well as on statutory and policy matters.
We assist banks and other financial institutions on issues relating to the purchase of tax-exempt bonds.
We represent corporate trustees on their initial and continuing roles in tax-exempt bond issues, ensuring that their interests are protected and their actions are appropriate under the governing documents.
Who We Serve
Our clients include all participants in the tax-exempt bond market. Although our clients are often located in the five-state area in which we maintain offices - Massachusetts, Rhode Island, Connecticut, New York and New Hampshire - our attorneys work nationally. We have recently represented participants in tax-exempt financings in Alabama, Arizona, California, Colorado, Florida, Georgia, Maine, Maryland, Nevada, New Jersey, North Carolina, Oregon, Texas and Vermont.
Below is a small sampling of the Public Finance Group’s recent engagements:
– New Hampshire Higher Education Loan Corporation - We served as corporate financing counsel to New Hampshire’s student loan program corporation in the successful restructuring and refinancing of all of its $1.5 billion of frozen auction rate securities, despite the downgrading of certain of the refinancing notes (due to the downgrade of the federal government) three weeks prior to the closing of the final refinancing tranches.
– Lehman Swap Counterparties - Our firm has represented a broad range of borrowers, from small charitable corporations to a major foreign banking corporation, in connection with their interest rate swaps following the Lehman Brothers bankruptcy.
– State of Rhode Island and Providence Plantations - We served as bond counsel to the State of Rhode Island in connection with the issuance of debt to fund energy conservation projects at University of Rhode Island, Community College of Rhode Island and Department of Administration facilities.
– Rhode Island Health and Educational Building Corporation - Our firm served as bond counsel to the Rhode Island Health and Educational Building Corporation in connection with the issuance of $6,450,000 of bonds to finance the construction of a 32,000 square foot health center in Pawtucket, Rhode Island.
– New Hampshire Health and Education Facilities Authority - We serve as issuer’s counsel to the New Hampshire Health and Education Facilities Authority, New Hampshire’s largest issuer of tax-exempt bonds.