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For over three decades Rayl has negotiated financings and refinancings on behalf of government, nonprofit, and private sector entities looking to fund major economic development projects.
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The public and project finance team at Cozen O’Connor is a recognized leader in the field. Our attorneys negotiate financings and refinancings on behalf of government, nonprofit sector, and private sector entities in order to fund major infrastructure, education, housing, senior living, health care, energy, and economic development projects. We have experience serving as bond counsel, underwriters' counsel and borrower's counsel in all manner of transactions, including tax-exempt and taxable bonds, debt restructuring, off-balance sheet financings, securitizations, and derivatives. Over the past decade, attorneys from our group have participated in transactions that exceed approximately $73 billion in aggregate principal amount. In addition, we represent public finance industry participants in related compliance and regulatory matters.
Cozen O’Connor has a team of partners dedicated to this practice. Few large firms have committed to public and project finance law to nearly the same extent. At Cozen O’Connor, we don’t do this work part time or juggle a multimillion-dollar bond issue with an initial public offering. Our public and project finance attorneys do public and project finance deals. Period.
That single-minded focus directly benefits clients. For one thing, it means that the practice operates with optimal efficiency. It also means that our attorneys are fully versed in current legal and regulatory trends and steeped in the particulars of public and project finance law. They have command of the relevant state and federal statutes and a thorough knowledge of how tax and securities law will impact financings. In many ways, public and project finance is an insiders’ game. Cozen O’Connor attorneys are fluent in the vernacular and can serve clients both as interpreter and guide.
Through years of dedicated practice, the firm’s public and project finance team has developed exceptionally strong relationships with government officials, leaders of public and private institutions, financial advisers, and underwriters. We also enjoy tremendous credibility with other working group members, which enables us to move big deals along expeditiously.
SERVICES
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Facilitate tax-exempt and taxable financings (general obligation bonds, revenue bonds, and short-term notes)
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Assist with debt restructurings and conversions
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Draft operative legal documents and offering documents
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Conduct due diligence
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Prepare blue sky memoranda
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Design bond pool programs
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Advise clients on municipal swaps and other derivative products
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Draft disclosure agreements and counsel on continuing disclosure obligations
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Address Municipal Securities Rulemaking Board questions and issues
CLIENTS
We represent issuers, underwriters, and borrowers involved in financing the development, construction and operation of capital projects. Our diverse pool of clients includes:
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States, counties, cities, school districts, authorities, and other governmental and quasi-governmental entities
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Educational institutions, including colleges, universities, secondary, and charter schools
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Entrepreneurial companies conducting urban economic development projects
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Health care entities, including hospitals, continuing care retirement communities, nursing homes, and assisted living facilities
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Sports facility and sports team stakeholders
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Underwriters and lenders to major capital projects
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Other nonprofits
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Developers
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Trustees
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Swap counterparties
TEAM
The public and project finance team at Cozen O’Connor has been ranked among the top state bond and underwriters’ counsel by independent rating institutions. Underlying this success is our attorneys’ experience in the legal and public sectors. Our attorneys have served on high-profile government advisory panels, boards of regional finance authorities, and are members of the National Association of Bond Lawyers and the Pennsylvania Association of Bond Lawyers. They also lead efforts for greater diversity in the legal profession. The group's co-chair is a founding member of a nonprofit that provides educational and networking opportunities for female public finance professionals.
In public and project finance, timing is critical. We are accustomed to working on deals with numerous players and competing deadlines, and we understand the importance of moving quickly to capture the benefits of a favorable rate environment. As part of our commitment to keeping pace with clients’ business needs, attorneys make themselves available around the clock. In addition, the public and project finance attorneys cultivate strong working relationships with members of the firm’s tax, health care, real estate, and bankruptcy groups so that they are always able to provide comprehensive counsel. At Cozen O’Connor, we strive to balance speed and prudence for the clients’ benefit.