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Public Finance

For more than 20 years, Mayer Brown has actively assisted public finance participants in developing and implementing creative solutions to financing concerns.

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Mayer Brown’s Public Finance practice is nationally recognized for its experience and ingenuity as counsel in a broad range of public financing transactions. For decades, Mayer Brown has actively assisted public finance participants in developing and implementing creative solutions to financing concerns.

Our lawyers are experienced in a wide array of sophisticated municipal finance transactions. Our in-depth knowledge of the applicable provisions of federal and state statutes and regulations that impact the issuance of debt allows us to advise clients on the full range of legal problems involved in complex public projects and financing programs.

We act as bond counsel, underwriter’s counsel, counsel to letter of credit banks and liquidity providers, issuer’s counsel, trustee’s counsel, borrower’s counsel and tax controversy counsel in a variety of municipal financings in principal amounts up to $10 billion. These financings range from general obligation bonds, housing bonds, hospital bonds, surface transportation private activity bonds, university and other 501(c)(3) organization bonds to enterprise revenue fund (airport, water and sewer) bonds and include new money and refunding bonds and the restructuring of previously issued obligations. We have advised on more than $35 billion in bond financings between 2003 and 2016. We have the proven ability to address the full range of legal problems involved in complex public projects and financing programs.

Bond Counsel

As bond counsel, we work with issuers and their financial advisers and underwriters to ensure that a bond issue is properly structured to attain any available tax-exempt status. We often implement complex structures for public finance transactions, including variable rate debt, interest rate swaps and other derivative products; forward purchase agreements; capital appreciation and deep discount bonds; master indenture transactions; and various forms of credit enhancement.

Disclosure Counsel

As disclosure counsel, Mayer Brown has significant experience representing a number of governmental issuers that issue debt frequently, including clients that have encountered unique and challenging disclosure issues.

Underwriter’s Counsel

As underwriter’s counsel to national and regional investment banks, we help our clients navigate SEC Rule 15c2-12, state blue sky laws, Municipal Securities Rulemaking Board rules and other securities law considerations. The depth and breadth of Mayer Brown’s various practices allow our public finance lawyers to quickly and efficiently draw upon the firm’s experience and capabilities in conducting due diligence; understanding and resolving complex disclosure, regulatory and other legal issues; and ultimately documenting and closing the transaction.

Issuer’s Counsel

Our strength lies in our experience representing governmental bodies as issuer’s counsel on a wide range of general obligation and conduit transactions. We regularly analyze and advise on our clients’ rights and duties under outstanding trust indentures/bond resolutions, specifically those secured by dedicated revenue streams.

Tax Controversy Counsel

As tax controversy counsel, Mayer Brown has represented governmental issuers and private borrowers in connection with responses to both random and targeted IRS examinations of tax-exempt bond transactions. The transactions for which we have provided such counsel are varied and intricate.

Trustee’s Counsel

Mayer Brown has also served as trustee’s counsel, providing advice regarding the rights and obligations of trustees under specific public finance transaction documentation as well as advising on the more general risk assessments of the operations of trustee services providers.
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