McGuireWoods’ nationally recognized Public Finance Practice Group leverages its experience in federal tax, state law and securities law to guide clients through all types of municipal financings, including first-of-its-kind structures.
We help clients navigate a range of issues, such as a rise in variable rate demand tender bonds, the ebb and flow of guaranteed investment contracts and arbitrage earnings, the use of swaps and other derivative products, municipal defaults, the resurrection of the direct placement, and the combination of multiple subsidies with tax-exempt debt.
The team includes thought leaders who monitor developments in the public finance space and draft responses to proposed regulations, desk book materials and industry whitepapers.
How We Help
The Public Finance Practice Group leads municipal capital projects and working capital financings as bond counsel, disclosure counsel, underwriter’s counsel and lender’s counsel. The team’s work encompasses nearly every type of government and private activity project.
Affordable housing projects
Airport and air cargo facilities
Bond banks and pooled financings
Broadband
Charter schools
Economic development
General 501(c)(3)
Ground leases and lease purchase arrangements
Higher education and private schools
Hospital and healthcare
Industrial revenue and exempt facility bonds
Local government
Public schools
Senior living
Solid waste disposal facilities
Special tax districts and community development
Sports facilities and civic centers
Toll roads and other transportation facilities
Water and sewer
When serving as bond or disclosure counsel, we advise local governments, development authorities, other special purpose issuers and public companies. As underwriter’s or lender’s counsel, the group represents top investment banking firms, commercial banks, and non-traditional tax-exempt lenders and purchasers.
Tax and Securities Experience
All McGuireWoods bond attorneys are well-versed in federal tax and securities laws. The group is distinguished by its roster of tax lawyers who focus on public finance law. They are nationally recognized for tax-exempt finance work and client representation before the Internal Revenue Service, including IRS audits and enforcement actions. Active in the municipal securities law community, our team produces thought leadership and practical desk book materials.
We serve as lead counsel in the full spectrum of transactions.
Construction and equipment financings
Refundings (advanced, current, gross and cross-over)
Tax-exempt leasing
Escrow transactions (including restructuring)
Cash flow and working capital financings
Variable rate and put bonds
Capital appreciation bonds
Conduit and other pass-through transactions
Industrial development and private activity bonds
Interest rate swaps
Commercial paper programs
P3 financings
Direct placements and limited offerings
Tax-increment programs
Pooled financings
Representative Matters
Bond counsel on the second largest healthcare financing in 2023;
Bond counsel to the City of Atlanta in the issuance of $410 million General Obligation Public Improvement Bonds, Series 2022A-C;
Underwriters’ counsel and dealer manager’s counsel to a leading financial institution for the Virginia College Building Authority’s issuance of $960.6 million Education Facilities Revenue Bonds (21st Century College and Equipment Programs), Series 2023A-B and related bond tender transaction;
Underwriters’ counsel to an American multinational bank in connection with multiple City of Chicago Midway International Airport revenue bond offerings;
Underwriters’ counsel and dealer managers’ counsel to an American multinational bank in a $2.9 billion general obligation bond tender offer with a 10-month forward delivery period, including a tender offer, new money bonds (two social bond series), refunding bonds and a forward delivery series of bonds; and
Underwriters’ and bond counsel on bond offerings for public companies or private developers in the investor-owned utility, industrial materials and renewable energy markets.
When new challenges arise in municipal finance, McGuireWoods’ Public Finance Practice Group is armed with the knowledge and experience needed to develop innovative strategies to achieve clients’ goals.
Recognized for public finance nationwide and in Georgia, Maryland, North Carolina and Virginia.
– Chambers USA
Recognized among top bond counsel firms, ranking 10th in the Southeast region, second in Virginia, fourth in North Carolina and fifth in Maryland.
– The Bond Buyer
Recognized for public finance nationwide and in Georgia, Maryland, North Carolina and Virginia.
– Chambers USA
Recognized among top bond counsel firms, ranking 10th in the Southeast region, second in Virginia, fourth in North Carolina and fifth in Maryland.
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