CHICAGO – Dec. 9, 2015 – Global law firm Greenberg Traurig, LLP acted as underwriter’s and investor’s counsel on a Kentucky Economic Development Finance Authority bond offering which won The Bond Buyer’s Deal of the Year at the publication’s 14th annual ceremony Dec. 3 in New York.
The winning deal was a $232 million tax-exempt bond and $58 million taxable private placement bond to finance a Public-Private Partnership (P3) to bring high-speed Internet to all 120 of Kentucky’s counties. According to The Bond Buyer, “the offering, which also won the Deal of the Year award for the Southeast region, forged new territory in the P3 market with its unique, first-of-its-kind approach to broadband connectivity on a statewide basis, and was the first non-transportation P3 to use a tax-exempt governmental purpose bond structure that achieved full risk transfer. The bonds were also issued in a fixed-rate structure with quarterly principal amortization to further reduce annual interest expense, another first for a P3 deal.”
The Greenberg Traurig team which acted as underwriter’s and investor’s counsel was led by shareholders Charles J. Kolin, Alexander L. Scarola, and David J. LaSota, and included associates Lonneke M. Purucker and Rebecca Rosenthal Kristall.
The editors of The Bond Buyer select outstanding municipal bond transactions for recognition. The 2015 awards drew nominations that represent the diverse range of communities and public purposes served by the municipal finance market.