Mayer Brown advises on two transactions named 2013 “Deal of the Year” winners by The Bond Buyer
25 November 2013
Mayer Brown, a leading global law firm, announced that it provided counsel on two transactions that were named 2013 “Deal of the Year” winners by The Bond Buyer. The awards recognize “outstanding municipal bond transactions” from the past year and honor the issuers “who overcame myriad challenges to bring these deals to fruition,” the publication said.
Mayer Brown represented WVB East End Partners as sponsors’ counsel on WVB’s public-private partnership with the Indiana Finance Authority to fund the Ohio River Bridges East End Crossing Project, which was named The Bond Buyer’s “Midwest Region Deal of the Year” winner. The financing for the toll bridge and roadway was achieved through the sale of more than $675 million in tax-exempt private activity bonds (PABs), which the publication said was “the largest P3 PAB offering completed to date in the U.S. municipal market.” The Mayer Brown team included partners David Narefsky, Joseph Seliga, Joanna Horsnail, George Miller and John Lawlor, counsels Richard Ziegler and Joe Organ, and associates Stephanie Wagner, Mitchell Holzrichter and Sandy Zhang.
In addition, Mayer Brown advised MetroCat Re Ltd. as issuer in the $200 million catastrophe bond offering that funded insurance for New York’s Metropolitan Transportation Authority (MTA) covering losses in the event of a storm featuring destructive storm surges. The transaction was named the winner in the “Non-Traditional Financing Deal of the Year” category. The Bond Buyer noted that this first-of-its-kind catastrophe bond offering’s “innovative, non-traditional structure allowed the MTA to close its storm surge insurance gap, following $4.9 billion in storm surge-related losses as a result of Superstorm Sandy.” The Mayer Brown team included partners Stephen Rooney, Richard Spitzer, George Craven, Stephen Walsh and associates Richard Pan, Tareah Ikharo, Steven Garden and Angeli Sunmonu.
Both transactions are also finalists for The Bond Buyer’s national Deal of the Year Award, which will be announced in December.
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