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Gregory M. Tears

Member

: New York
277 Park Avenue
New York, NY 10172
P: (212) 297-2690
TF: (888) 864-3013
F: (516) 342-5076
: Chicago
P: (312) 382-3159
F: (312) 382-8910

Gregory M. Tears

Gregory focuses his practice on public and project finance, and has served as bond counsel, borrower’s counsel, and underwriter’s counsel on a wide variety of public finance transactions, including general obligation bonds, bond and tax anticipation notes, revenue bonds, variable and fixed rate obligations, credit-enhanced (insured or letter of credit supported) obligations, current and advance refundings, remarketings, and interest rate swaps and derivatives. He has worked on tax-exempt and taxable financings in the areas of transportation, infrastructure, higher education, housing, public power, water and wastewater, and health care.

Greg earned his J.D. from Rutgers University School of Law– Newark and was an editor of the Rutgers Law Review. He received his A.B. in English and American literature and language from Harvard University.

Experience

Served as underwriter’s counsel on a $73.6 million bond financing for the Dormitory Authority of the State of New York (DASNY) on behalf of a private New York college in 2015.

Served as underwriter’s counsel on two financings for the New York State Housing Finance Agency totaling $92.9 million in 2015.

Served as bond counsel on a $60 million bond financing for the New Jersey Economic Development Authority on behalf of a newly formed renaissance school in 2014.

Served as borrower’s counsel on several financings for various Wisconsin universities and colleges totaling more than $70 million since 2012.

Served as underwriter’s counsel and co-underwriter’s counsel on two bond financings for the State of Wisconsin totaling $846.7 million in 2013.

Served as co-underwriter’s counsel on a $500 million bond financing for the Illinois State Toll Highway Authority in 2013.

Served as co-underwriter’s counsel on a $468.9 million bond financing for the Chicago Board of Education in 2012.

Served as underwriter’s counsel on two financings for the Illinois Finance Authority on behalf of a large Catholic university in 2011 and 2013.

Served as bond counsel on approximately $1.6 billion of bonds issued by the State of Illinois in 2009 and 2010.

Served as underwriters' counsel to a prominent security brokerage and investment advisory services firm in connection with an approximately $430 million bond financing for a bi-state toll bridge commission. The transaction financed (i) the demolition of the existing toll bridge and construction of a new bridge span; (ii) related roadway widening and improvements; (iii) the reconfiguration of various interchanges; (iv) a pedestrian/bicycle pathway and noise walls; and (v) the construction of an all-electronic tolling structure and related equipment. The transaction involved extensive due diligence and disclosure on the bidding and construction contract process as well as the permits and approvals needed for the project. The transaction also involved the review of a traffic and revenue feasibility study which analyzed the existing and future traffic, tolls, and revenues of the commission's bridge system.

Served as co-underwriters' counsel on an approximately $28.8 million bond financing for a large urban housing authority which financed the acquisition, construction, renovation, improvement, furnishing, and equipping of a new office building through a loan to a non-profit development corporation, where the building will be leased by the housing authority for use as its corporate headquarters.

Served as underwriter’s counsel on a series of bond financings, totaling more than $372 million, for the Minnesota Housing Finance Agency on behalf of RBC Capital Markets since 2015.

Served as underwriter’s counsel to Jefferies LLC in connection with the New York State Housing Finance Agency’s issuance of $81 million of affordable housing revenue bonds.

Served as underwriter's counsel to a prominent investment banking firm in connection with a large urban school district's issuance of more than $250 million of general obligation bonds in multiple series.

Served as underwriter's counsel to a prominent investment banking firm in connection with a state mortgage agency's issuance of homeowner mortgage revenue bonds in multiple series.

News

Gregory Tears Mentioned in The Bond Buyer

January 14, 2014

Gregory Tears, of the Public & Project Finance Practice Group, was mentioned in a Bond Buyer article titled, "Cozen O'Connor Brings Midwest Lawyer to NY Team." The article explains how Greg joined Cozen O'Connor in 2013. Greg focuses his practice on public and project finance and has served as bond counsel, borrower’s counsel and underwriter’s counsel on a wide variety of public finance transactions, including general obligation bonds, bond and tax anticipation notes, revenue bonds, variable and fixed rate obligations, credit-enhanced (insured or letter of credit supported) obligations, current and advance refundings, remarketings and interest rate swaps and derivatives.

Cozen O’Connor Expands Public and Project Finance Practice with Addition of New Member

January 13, 2014

Cozen O’Connor has grown its Public and Project Finance Practice Group in New York with the recent hiring of Gregory M. Tears, who joins the firm as a member. Previously a partner with Michael Best & Friedrich LLP in Milwaukee, Mr. Tears brings extensive experience as bond counsel, borrower’s counsel and underwriter’s counsel, having worked on a wide variety of public finance transactions, including general obligation bonds, bond and tax anticipation notes, revenue bonds, variable and fixed rate obligations, credit-enhanced (insured or letter of credit supported) obligations, current and advance refundings, remarketings and interest rate swaps and derivatives.

What Could President Trump’s Proposed Tax Reforms Mean for the Municipal Bond Market?

June 29, 2017

Greg Tears discusses three of President Trump's proposals that could have an impact on the municipal bond market.

Settlements Ended under the SEC’s Municipalities Continuing Disclosure Cooperation (MCDC) Initiative [Public & Project Finance Alert]

December 14, 2016

Gregory M. Tears discusses the end of the SEC's settlements under its MCDC Initiative and what the SEC will focus on next, including issuers and underwriters who may have committed violations but chose not to self-report under the MCDC Initiative.

SEC Charges 71 Issuers under its Municipalities Continuing Disclosure Cooperation Initiative

August 29, 2016

Joseph Dever and Gregory M. Tears discuss the 71 municipal issuers and other obligated persons charged by the SEC for selling municipal bonds with offering documents that contained materially false statements or omissions about compliance with continuing disclosure obligations.

MSRB Rule G-20: Recent Amendments Become Effective on May 6, 2016 [Public & Project Finance Alert]

February 24, 2016

Gregory Tears discusses the SEC approved amendments by the Municipal Securities Rulemaking Board to MSRB Rule G-20 regarding gifts, gratuities and non-cash compensation.

One Size Does Not Fit All: Written Disclosure Policies in a Time of Increased SEC Enforcement [Public & Project Finance Alert]

October 02, 2015

The purpose of this Alert is to provide issuers with a brief overview of the reasoning for having written disclosure policies and to discuss several key points to consider in drafting written disclosure policies.

SEC, FINRA and the MSRB Announce Compliance Outreach Program for Municipal Advisors [Public & Project Finance Alert]

October 01, 2014

The Securities and Exchange Commission (the SEC), the Financial Industry Regulatory Authority (FINRA), and the Municipal Securities Rulemaking Board (the MSRB) announced today the opening of registration for the first Compliance Outreach Program for Municipal Advisors (the Compliance Outreach Program) that will take place in Chicago on November 3, 2014.

SEC Makes Modifications to Municipalities Continuing Disclosure Cooperation (MCDC) Initiative [Public & Project Finance Alert]

August 01, 2014

The Securities and Exchange Commission (SEC) yesterday announced modifications to its Enforcement Division’s Municipalities Continuing Disclosure Cooperation (MCDC) Initiative. First, the SEC has extended the deadline from September 10, 2014 to December 1, 2014 for issuers and obligors to self-report potential violations under the MCDC Initiative. The deadline for underwriters to self-report violations remains the same at September 10, 2014.

SEC Introduces Municipalities Continuing Disclosure Cooperation (MCDC) Initiative [Public & Project Finance Alert]

March 13, 2014

In an effort to further uncover securities law violations and improve transparency in the municipal markets, the Enforcement Division of the Securities and Exchange Commission (SEC) this week announced its Municipalities Continuing Disclosure Cooperation (MCDC) Initiative which encourages issuers and obligated persons (collectively, issuers) and underwriters of municipal securities to self-report inaccurate statements made in municipal securities offerings about issuers’ prior compliance with continuing disclosure obligations specified in Rule 15c2-12 (Rule 15c2-12) under the Securities Exchange Act of 1934 (Exchange Act) in exchange for the Enforcement Division’s recommendation of standardized, favorable settlement terms.

Practice Areas

Business/Corporate

Corporate

Nonprofit & Tax-Exempt Organizations

Public & Project Finance

Education

Rutgers University School of Law—Newark, J.D., 2002
Harvard University, A.B., 1998

Bar Admissions

Affiliations

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