Based upon our extensive bond experience, coupled with our deep roots in construction and project-based finance, we are in a unique position to evaluate the facts of any bond transaction, and specifically, to analyze the needs of institutions looking to enter the municipal marketplace and properly document tax-exempt secured lending transactions.
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.
Successfully engaging in tax-exempt finance requires compliance with complex statutes that regulate the use of proceeds, borrowing, lending and the perfection of security interests. It also necessitates a deep understanding of issue structures, how nonprofit corporations and governments operate, and the interplay of the parties’ rights and responsibilities.
With decades of diverse public finance experience, Stradley Ronon has handled a broad spectrum of complicated financings and related transactions, advising on billions in taxable and tax-exempt loan obligations, including regulatory compliance, loan structuring, distressed loan workouts, and the many other issues that arise in the context of public and project-based finance.
OUR Extensive Experience
Stradley Ronon public finance lawyers have served in many roles, including authority counsel; bond counsel; and counsel to issuers, borrowers, banks, underwriters and developers, among others. Advising on all types of finance transactions including tax-exempt and municipal finance, we collaborate with members of our other practices, including tax, securities, bankruptcy, energy, health care, environmental, litigation and real estate law, to provide seamless, integrated service that meets our clients’ needs and helps them achieve their goals.
Applying our extensive collective experience in public finance, we evaluate the various terms and conditions of bond transactions, analyzing the needs of institutions seeking entry into the municipal marketplace. Often we are called on to advise on unique legal matters related to bond transactions, such as the prior and current use of proceeds, transferred proceeds, arbitrage and rebate. We also apply our training in traditional lending transactions to provide efficient review and analysis of construction, real estate and personal property monitoring, and collateral issues in any finance transaction.
Further, Stradley Ronon Partner Valentino F. DiGiorgio acts as solicitor and bond counsel for the Uwchlan Township Industrial Development Authority in Chester County, Pennsylvania, which serves as a conduit borrower for tax-exempt borrowings and bond issuances on behalf of nonprofit entities and manufacturing companies, and as solicitor for the Bethlehem Revitalization and Improvement Authority.
OUR Clients & Services
The Stradley public finance practice group represents underwriters, credit 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. Further, we represent banks and financial institutions in bond issuances and render opinions on transactions handled by other counsel. Our attorneys also advise issuing agencies and instrumentalities, including municipal authorities, industrial development authorities, states, counties and municipalities. In particular, we have very active practices relating to the issuance of bonds on behalf of charter schools, health care, higher education and continuing care retirement communities.
Stradley Ronon is listed in the municipal bond attorney section of The Bond Buyer’s Municipal Marketplace (the Red Book), and a number of our lawyers are active members of the National Association of Bond Lawyers and the Pennsylvania Association of Bond Lawyers.
OUR Value-Added Services
In addition to providing bond and underwriter’s counsel services, we routinely advise financial institutions in making directly placed tax-exempt loans to municipalities, nonprofit and manufacturers corporations. Our public finance lawyers also handle commercial bank loans, construction financings, derivative transactions, workouts, restructurings and other reorganizations involving:
- real estate-based construction loans
- plant and equipment loans
- lines of credit
- revolving credit agreements
- term loans
- letter of credit facilities
- conventional collateralized loans
- subordinated indebtedness
- structured financings
- syndicated arrangements
This broad-based and diverse experience allows us to advise our clients on every aspect of their financing and enables us to give timely and practical advice with respect to public and private debt issuances.