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The State of Wisconsin's 2025 refinancing set a new standard for municipal tenders. Instead of a fixed price, the state executed the first fixed-spread tender for tax-exempt bonds, anchoring pricing to the AAA BVAL curve.
December 15 -
New York Transportation Development Corporation's green bond financing for JFK's new Terminal 6 proves that big aviation projects can be built with climate goals at the center.
December 15 - Deal of the Year 2025: Kerrville Public Utility Board Public Facility Corp. (Small Issuer Financing)
Kerrville Public Utility Board Public Facility Corporation entered the public markets with its inaugural bond sale to deliver a new peaking power plant for the Texas Hill Country.
December 15 -
Georgia's SR 400 Express Lanes financing shows how public and private partners can solve a regional mobility challenge at scale.
December 15 -
Brightline's $3.2 billion recapitalization marked a watershed moment in U.S. infrastructure finance.
December 15 -
The Los Angeles Unified School District's $2.97 billion General Obligation Refunding Bonds represented the largest GO bond financing of the year.
December 15 -
Jefferson County, Alabama's $2.24 billion Sewer Revenue Warrants refinancing marked a monumental achievement in the county's financial turnaround following its 2011 bankruptcy.
December 15 -
The Illinois Finance Authority and the University of Chicago's $1.92 billion Revenue Bond transaction was a record-setting deal and the largest ever issued by the Authority.
December 15 -
The Cities of Dallas and Fort Worth's $1.32 billion financing for Dallas Fort Worth International Airport made DFW the first U.S. airport to introduce an Extendable Commercial Paper program.
December 15 -
The New York Transportation Development Corporation's $4.55 billion green bond issuance for the JFK International Airport Terminal One redevelopment represents the largest single-asset project financing in U.S. history.
December 15