Devin Brennan, a Partner in the San Francisco office, is a member of the Public Finance Department. Mr. Brennan has represented issuer, underwriter and private sponsor clients in transactions involving both long- and short-term, fixed and variable rate obligations, public-private partnerships (P3s), commercial paper, swaps, credit and liquidity enhancement, and revenue bonds for natural gas and electrical capacity. Mr. Brennan’s practice includes representing clients in water, wastewater, transportation, public power, pollution control and other infrastructure financings. Mr. Brennan also has experience with single family housing, 501(c)(3), redevelopment and complex special purpose financings.
Recent representative transactions have included the following:
- Lead associate on bond counsel team for the California Pollution Control Financing Authority in connection with the financing of an approximately 54 million gallon per day reverse osmosis desalination plant and related pipeline in Carlsbad, California through a public-private partnership between the San Diego County Water Authority and Poseidon Resources (Channelside) L.P., a transaction named “North American Water Deal of the Year 2012” by Project Finance Magazine and “Deal of the Year, Far West Region” by The Bond Buyer.
- Lead associate on bond counsel team for the Riverside County Transportation Commission in connection with its approximately $1.2 billion financing of the SR-91 Corridor Improvement Project. Coordinated financing sources for the project included sales tax revenue bonds, toll revenue bonds and a loan by the United States Department of Transportation pursuant to the Transportation Infrastructure Finance and Innovation Act (TIFIA).
- Lead associate on bond and disclosure counsel teams involved in the structuring of, and preparation of disclosure for, the inaugural issuance of bonds by the Bay Area Water Supply and Conservation Agency. Proceeds of the issuance refunded certain capital cost recovery charges payable by the Agency’s 26 members to the San Francisco Public Utilities Commission.
- Lead associate on bond counsel team for the Bay Area Toll Authority in connection with issuances, refundings, amendments and conversions of toll revenue bonds aggregating more than $8 billion. Such bonds were originally issued, in more than 30 series and subseries and with multiple credit and liquidity facility providers, to fund construction and improvement of seven state-owned toll bridges, including the new east span of the San Francisco-Oakland Bay Bridge.
- Lead associate on bond counsel team for the California Alternative Energy and Advanced Transportation Financing Authority in its issuance of Clean Renewable Energy Bonds, the proceeds of which funded the installation of solar panels at 70 Caltrans facilities.
- Lead public finance associate on team providing advice and analysis to municipalities in connection with their filings for chapter 9 bankruptcy.
- Co-lead associate on bond counsel team for California Statewide Communities Development Authority (CSCDA) in its issuance of $1.895 billion of revenue bonds secured by Proposition 1A receivables sold to CSCDA by more than 1200 California local agency participants.
- Lead associate on disclosure counsel team for the Public Utilities Commission of the City and County of San Francisco in connection with the issuance of approximately $1.75 billion of Water Revenue Bonds to finance its Water System Improvement Program.
- Member of bond counsel and disclosure counsel teams for the Tuolumne Wind Project Authority (TWPA) in its issuance of $427 million of bonds secured by revenues generated under a take-or-pay power purchase agreement. Proceeds of the bonds funded TWPA’s acquisition of a 136 megawatt wind farm.
- Lead associate on bond counsel team for the City of Chula Vista in connection with the termination of municipal bond insurance policies securing payment of its industrial development revenue bonds, the proceeds of which had been loaned to San Diego Gas & Electric Company.
- Member of underwriter’s counsel team for an investment bank in connection with the underwriting of more than $700 million of revenue bonds issued as part of a natural gas prepayment transaction.
Prior to joining Orrick, Mr. Brennan was a Chayes Fellow at Harvard Law School researching agricultural and environmental law and policy in the offices of the Central and Eastern European Working Group for the Enhancement of Biodiversity (CEEWEB).