Public Finance

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Straight Talk® is good business

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Public Finance

Straight Talk on Public Finance 

Andrews Kurth public finance lawyers provide bond and disclosure counsel services for state agencies and local governments and underwriter counsel services for major national and regional investment banking firms throughout Texas and the Southwest.

Our experience in these tax-exempt bond transactions includes general obligation bonds, revenue bonds and private activity bonds.  Our Public Finance practice group earns high rankings on industry scorecards. Practice highlights include:   

We represent domestic and foreign commercial banks and trustees on:

In all public finance matters, and across a range of infrastructure projects, Andrews Kurth lawyers apply their straight talk approach—open communication, sound advice in clear terms and respect for deadlines.  Industry sectors of our public finance representation include:

Public Finance Practice Scope

We believe that representing a government entity as bond or disclosure counsel requires a coordinated team of lawyers with diverse areas of experience.

The large size and wide diversity of our firm allow us to enlist lawyers from other practice areas to advise our clients on a variety of legal matters. Lawyers in our Houston, Dallas and Austin offices regularly provide services for state agencies, school districts, counties, cities and special authorities throughout Texas.  

Our services in the public finance realm extend far beyond the basics. Many of our clients are involved in the issuance of debt for new projects, as well as refinancing existing facilities and programs. Our lawyers’ experience includes both aspects of public finance law.

We regularly advise about changes in federal income tax, securities and state finance laws. Frequently, we work with financial advisors and investment bankers to develop alternative and creative financing structures for public improvement programs. Andrews Kurth lawyers have worked with federal and state regulatory agencies and, when called for, have secured statutory changes in the Texas Legislature.

Public Finance Transactions and Projects

Commercial Paper

Convention and Entertainment Facilities

 Education 

Health Care

Housing

Nonprofit Organizations

Port

Sports Facilities

State of Texas

Transportation

Utilities

Bond Counsel and Disclosure Counsel Clients

State

Local

Underwriter's Counsel Clients

Bank Counsel Clients

General and Special Counsel Clients

Bond Volume and Rankings

Each year, Andrews Kurth public finance lawyers serve as bond, underwriter/placement agent, disclosure, liquidity/credit bank, special tax or trustee counsel.  We represent clients in the issuance of publicly offered short-term obligations and hundreds of additional private transactions that total several billion dollars in principal amount.

Andrews Kurth served as bond counsel to TxDOT in its $600 million offering of state highway revenue bonds sold in August 2006. The deal, which was the first issuance of its kind by the State of Texas, was named “Deal of the Year, Southwest Region” in the large issuer category by The Bond Buyer.

In public offerings of US municipal obligations in recent years, Andrews Kurth served as Bond Counsel and Underwriters Counsel in the following number of transactions, totaling the following dollar volumes:

Bond Counsel

2016: 162 transactions, $7.488 billion (#12 national ranking)

2015: 142 transactions, $6.195 billion (#14 national ranking)

2014: 130 transactions, $6.084 billion (#13 in national ranking)

2013: 95 transactions, $3.581 billion (#18 in national ranking)

2012: 117 transactions, $4.324 billion (#17 in national ranking)

Bond Counsel Negotiated

2016: 102 transactions, $6.919 billion (#9 national ranking)

2015: 92 transactions, $5.515 billion (#13 in national ranking)

2014: 84 transactions, $5.615 billion (#12 in national ranking)

2013: 59 transactions, $2.806 billion (#17 in national ranking)

2012: 88 transactions, $3.934 billion  (#14 in national ranking)

Underwriters Counsel

2016: 206 transactions, $8.744 billion (#8 national ranking)

2015: 214 transactions, $7.668 billion (#8 in national ranking)

2014: 167 transactions, $5.603 billion (#9 in national ranking)

2013: 197 transactions, $3.536 billion (#12 in national ranking)

2012: 195 transactions, $4.373 billion (#13 in national ranking)

Disclosure Counsel

2016: 29 transactions, $2.878 billion (#17 national ranking)

2015: 14 transactions, $1.989 billion (#18 in national ranking)

2014: 20 transactions, $5.422 billion (#4 in national ranking)

2013: 17 transactions, $3.070 billion (#11 in national ranking)

2012: 15 transactions, $1.943 billion (#23 in national ranking)

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