Public Finance
- Served as bond and disclosure counsel to the Commonwealth of Massachusetts, which issued the first ever green bond in the nation by a state entity.
- Served as bond counsel to the Massachusetts School Building Authority with respect to issuing $1.4 billion of tax refunding (taxable) social bonds. This was the first public issue of social bonds in Massachusetts. Bond proceeds will be issued to create more equitable buildings.
- Served as bond counsel to the Massachusetts Clean Water Trust on several series of green and sustainability bonds since 2016. This includes the first sustainability bond issuance for a state revolving fund, which proceeds funded projects statewide that adhere to the environmental and health standards of the Clean Water Act and the Safe Drinking Water Act.
- Served as bond counsel to Massachusetts State College Building Authority on a $91 million project revenue green bond.
- Serve as bond and/or borrower counsel to several higher education institutions including Boston College, Boston University, the College of the Holy Cross, Merrimack College, Endicott College, Bowdoin College, and Johnson & Wales University with respect to new money and refunding bonds issued by conduit issuers.
- Served as bond counsel to the Massachusetts Development Finance Agency in connection with a new money and refunding bond issues for Wellforce, Inc., a Massachusetts based health system.
- Serves as bond counsel and general counsel to the Massachusetts Educational Financing Authority since its inception over 40 years ago. MEFA maintains an active three part capital program to fund a wide variety of higher education loans, two major college tuition savings programs, an ABLE program for eligible persons, educational programs and other public services for families and students. The three part capital program includes long term education loan bonds, taxable asset-backed notes meeting the requirements of the highly rated ABS market and a loan warehousing program funded by commercial paper.
- Represented MassHousing in connection with all of their multi-family programs for over 20 years. In 2017, we served as bond counsel to MassHousing in connection with 10 bond issues totalling approximately $350,000,000 and 2 note issues totalling over $100,000,000 and issuer counsel in connection with their Federal Financing Bank Participation Certificate Program.
- Serving as bond counsel to the MBTA since 1995, recently our work has included closing on a federal loan for a $450 million project creating a subordinated debt program and assisting in the issuance of both short term and long-term debt under that program. This included the first issuance of a governmental entity of “Sustainability Bonds” that promote green and accessibility projects.
- Served as bond counsel to the Maine Turnpike Authority for decades, most recently in connection with the financing of a portion of the Authority’s capital plan, including with respect to widening and extending the toll road and modernizing the toll technology. We also worked with the Authority to address proposed legislation that would eliminate the existence of the Authority.
- Served as purchaser’s and underwriter’s counsel in a series of transactions from late 2017 to early 2018 to Citigroup Global Markets.
- Served as borrower and bond counsel for a new money and refunding tax exempt bond issue and direct issue of taxable bonds, totaling more than $1.3 billion and occurring simultaneously in Massachusetts and New Hampshire for Partner HealthCare. This was the largest borrowing ever for Partners, with the deal proceeding to market in just seven weeks in order to close in 2017 ahead of the tax law changes.
- Representation of purchaser’s counsel for investors in a limited offering of tax-exempt bonds offered by the Director of the State of Nevada Department of Business and Industry through Morgan Stanley for the benefit of Fulcrum Sierra BioFuels, LLC.
- Represented the indenture trustee and bondholders in the workout of a Mississippi affordable housing project with low income housing tax credits.
- Represented four indenture trustees in the workout of over $500 million in bonds affected by the bankruptcy of a major senior housing developer
- Serving as bond counsel for the development of the Manhattan West Residential Housing Revenue Bonds, a project that began in 2015.
- Served as underwriters' counsel to the underwriters in respect to bonds issued by the Colorado Housing and Finance Authority totaling over $750 million, under both its single family and multifamily housing resolutions. The transactions included Social Bonds, taxable, tax-exempt, and variable rate single-family mortgage bonds and multi-family projects bonds.
- Served as underwriters’ counsel for the issuance of the Colorado Housing and Finance Authority Single Family Mortgage Bonds, Class I Bonds, 2018 Series A, Class I Bonds, 2018 Series B-1 and Class II Adjustable Rate Bonds, 2018 Series B-2.
- Represent UMB as indenture trustee in the liquidation of a Missouri special assessment bond. This matter requires some innovative techniques to achieve the termination of a special assessment lien with a supermajority of bondholders. We are also dual tracking to potentially sell assessment district parcels via foreclosure proceedings.
- Served as bond counsel and disclosure counsel in connection with a combination new money and refunding transaction in the total aggregate amount of $815 million. The Commonwealth issued two series of new money bonds in principal amount of $600 million to finance various capital projects of the Commonwealth and a refunding of $215 million. Each series was sold through a competitive process and ultimately sold to two different purchasers.
- Served as bond counsel and disclosure counsel on a complex $1.5 billion revenue anticipation note transaction. The transaction was sold competitively and ultimately placed in 15 pieces to 10 different purchasers.
- Serves as borrower’s counsel to Mass General Brigham since its inception as Partners HealthCare over 25 years ago and also now serves as its bond counsel. Mass General Brigham’s capital structure includes a wide variety of long term and short term, tax-exempt and taxable, fixed and variable rate debt and credit facilities. Its debt includes a full range of publicly traded and privately placed debt as well as liquidity arrangements and interest rate hedges. Some of its larger single public offerings have been near or above $1 billion in principal amount.
- Serve as bond counsel to the Massachusetts Development Finance Agency in connection with bonds and notes issued for the financing of various capital projects for qualified institutions.
- Represented indenture trustees, bond insurers and bondholders in the default and workout of numerous charter schools located throughout the country.
- Represented the indenture trustees in the restructuring of bonds or sale of assets for special assessment districts located throughout the country.
- Represented the bondholders of $50 million of bonds secured by an integrated solid waste disposal system in the process of recapitalization and asset sales.
- Represented the new money investor of $30 million of senior debt in a senior housing development.
- Served as co-bond counsel to the Brooklyn Arena Local Development Corporation in the refinancing of certain bonds issued for the construction of the Barclays Center in Brooklyn, NY. The Barclays Center is home to the Brooklyn Nets and New York Islanders and serves as a venue for other entertainment, cultural, sporting and civic events.
Case Study
A cross-practice Mintz team, led by several Public Finance Members, assisted Mass General Brigham in a $460 million publicly offered tax-exempt bond financing. The transaction marked the not-for-profit, integrated health care system’s return to the public debt market after nearly four years.
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Mintz acted as bond counsel to the Massachusetts Development Finance Agency for a $429 million bond issue for Wellforce Inc. that consolidated three obligated groups into one.
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Mintz serves as bond counsel to the New York State Housing Finance Agency in connection with multiyear, multimillion-dollar development projects in Brooklyn and Manhattan. Agency bonds funded affordable housing at the historic 19th century Domino Sugar plant in Brooklyn.
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Mintz has served as bond counsel to MassHousing for all their multifamily programs for over 30 years. In 2017, Mintz attorneys advised the agency on 25 transactions totaling more than $750 million.
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Mintz has a decades-long bond counsel relationship with the Commonwealth of Massachusetts. Mintz served as bond counsel and disclosure counsel on an $815 million new money and refunding transaction and a $1.5 billion note transaction for the state.
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Mintz quickly closed one of Partners HealthCare’s largest-ever borrowings, totaling over $1 billion, ahead of the new federal tax bill’s effective date. The borrowing involved tax-exempt bonds issued simultaneously in MA and NH.
Case Study
Mintz served as co-bond counsel for the Brooklyn Arena Local Development Corporation in connection with the construction financing and refinancing of the Barclays Center. Mintz
Public Finance and Tax attorneys worked on the “Payments in Lieu of Taxes” (PILOT) bond issues.
Public Finance and Tax attorneys worked on the “Payments in Lieu of Taxes” (PILOT) bond issues.
Case Study
Mintz is advising a National Hockey League (NHL) team on deal structures to finance the construction of a proposed new arena that would involve about $400 million in public funding. Mintz counsels the organization on public finance / bond transactions, insurance law, and tribal law.
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Mintz serves as bond counsel to the Vermont Municipal Bond Bank. Mintz helped the bank design and implement a new financing structure for the Vermont State Colleges System by advising on disclosure statements, preparing audits for the IRS and addressing tax issues.