Public Finance

Public FinancePublic Finance Green Book Series

Building on a nearly 100-year firm history in public finance that includes the financing of such iconic projects as the Golden Gate Bridge and Carnegie Hall, Orrick’s public finance lawyers have handled thousands of public finance transactions, and consistently ranks as the top public finance firm in the United States.

Our clients include municipal issuers, non-profit corporations, Indian tribes, underwriters, private borrowers, credit providers, investment providers, swap/derivative product providers and others in both primary and secondary market transactions.

Unmatched Experience with Municipal Debt

Our experience encompasses every type of project or program financed with municipal debt, whether tax-exempt or taxable, for municipal or private borrowers. Examples include a broad range of infrastructure, cultural, sports, transportation, utility, housing, health care, education, and other projects.

Post-Issuance Compliance and Enforcement Issues

In conjunction with Orrick’s wholly owned subsidiary, BLX Group, we also are a leader in helping clients and other municipal market participants with post-issuance compliance and enforcement issues, including arbitrage rebate, continuing disclosure, investment placement and management, program administration, IRS audits, SEC investigations, defaults, bankruptcies, and other workouts.

The Bond Buyer Rankings and Awards

2014 Thomson Reuters Rankings

  • No. 1 - Bond Counsel – 321 issues aggregating more than $30.5 billion dollars with a market share of 9.7%.
  • No. 1 Disclosure Counsel – 107 transactions aggregating more than $12.2 billion dollars with a market share of 17.8%.
  • No. 4 Underwriter's Counsel – 105 transactions aggregating more than $9.8 billion dollars with a market share of 3.1%.

2014 The Bond Buyer Far West Deal of the Year

Orrick served as bond counsel to the County of Los Angeles Redevelopment Refunding Authority in connection with the development of the County of Los Angeles’ program to assist successor agencies to former redevelopment agencies within the County to refund tax increment obligations in order to provide debt service savings to such successor agencies and to increase property tax revenues available for distribution to affected taxing entities. The program was the first to use a pooled structure to combine individual successor agencies into a single refunding series. The first issue under the program was a $53 million refunding and was selected as The Bond Buyer’s Far West Deal of the Year 2014.

2014 The Bond Buyer’s Northeast Deal of the Year

Orrick served as underwriter’s counsel to Goldman Sachs & Co. and Barclays Capital for the $350 million century-bonds issued by the District of Columbia Water & Sewer Authority. The 100-year bond represented the first municipal century bond issued by a water/wastewater utility in the United States. It also represented the District of Columbia Water & Sewer Authority’s inaugural green bond issue and the first independently certified green bond sold in the US debt capital markets. This innovative transaction has set a precedent for municipalities across the nation with critical long term environmental infrastructure needs. The Bond Buyer’s Northeast Deal of the Year 2014.

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