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| Public Finance |
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One of the firm’s major cross-disciplinary practice areas is public finance, including tax-exempt bonds and municipal finance. Based upon our extensive bond experience, we are in a position to evaluate the facts of any bond transaction, and specifically, to analyze the needs of institutions looking to enter the municipal marketplace. Because of the breadth and scope of our client representation in this area, our lawyers have had the opportunity to provide advice on a number of unique legal matters related to bond transactions.
Our Public Finance Practice Group represents underwriters, credit enhancement providers, trustees and various types of borrowers, including governmental entities, 501(c)(3) organizations and manufacturers. We also act as bond counsel in connection with the issuance of general obligation bonds, revenue bonds and various anticipation notes for conduit borrowers, states, counties, governmental authorities and municipalities. Rounding out our experience is our representation of banks and financial institutions in bond issuances.
Furthermore, we render opinions on transactions handled by other counsel. We are listed in the “Municipal Bond Attorney Section” of the Bond Buyers Municipal Marketplace (the “Red Book”) and a number of our lawyers are members of the National Association of Bond Lawyers and the Pennsylvania Association of Bond Lawyers.
We are special counsel to the Montgomery County Higher Education and Health Authority, the largest issuer of health care bonds to the health care industry in the state of Pennsylvania. Since 1997 we have acted as authority counsel for the Philadelphia Authority for Industrial Development in five bond issuances of publicly offered underwritten transactions of tax-exempt bonds totaling more than $2 billion in principal amount. Furthermore, we currently represent the State of Delaware as underwriter’s counsel. In addition, Stradley Ronon partner Valentino F. DiGiorgio serves as solicitor and bond counsel for Uwchlan Township Industrial Development Authority (IDA) in Chester County, Pa. The IDA serves as a conduit borrower for tax-exempt borrowings and bond issuances on behalf of nonprofit entities and manufacturing companies.
As a general matter, Stradley Ronon regularly represents participants in structured financing type transactions. Each year, we represent publicly traded and privately held companies seeking capital. Our business lawyers also handle commercial bank loans, tax-exempt financings, workouts, restructurings and other reorganizations. Our work often involves plant and equipment loans, lines of credit, revolving credit agreements, term loans, letter of credit facilities, conventional collateralized loans, subordinated indebtedness, structured financings and syndicated arrangements.
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