A comprehensive look at the 2021 Deal of the Year

The Bond Buyer has named Deal of the Year winners in 10 categories and announced the national Deal of the Year award at the close of the 20th anniversary of the awards at a ceremony at Guastavino’s in New York City Thursday.

A range of factors was considered when judging entries, including creativity, the ability to pull a complex transaction together under challenging conditions, the ability to serve as a model for other financings, and the public purpose for which a deal’s proceeds were used.

Here are the 2021 Deal of the Year award winners:

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Donna Alberico

Introducing the Deal of the Year ceremony

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Donna Alberico

We have a winner.

The Miami-Dade County’s $1.24 billion seaport refunding won Deal of the Year.

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Southeast - Miami

Southeast Region

Miami-Dade County Seaport Department: $1.24 billion of seaport revenue refunding bonds
Underwriter: Wells Fargo Corporate and Investment Bank
Bond counsel: Hogan Lovells US LLP
Municipal advisor: Hilltop Securities
Insurer: Assured Guaranty insured $800.3 million of the deal

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Far West - Foothill

Far West Region

Foothill/Eastern Transportation Corridor Agency, California: $759.772 million of toll road refunding revenue bonds
Underwriter: Goldman Sachs & Co.
Bond counsel: Stradling Yocca Carlson & Rauth
Municipal advisor: PFM Financial Advisors
Insurer: Assured Guaranty insured $187.6 million of the deal

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Northeast - Triborough

Northeast Region

Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels): $1.238 billion of payroll mobility tax senior lien bonds
Underwriter: Goldman Sachs & Co.
Bond counsel: Nixon Peabody
Municipal advisor: Public Resources Advisory Group

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Midwest - Detroit

Midwest Region

Detroit, Michigan: $175 million of unlimited tax general obligation bonds
Underwriter: BofA Securities
Bond counsel: Miller Canfield
Municipal advisor: Public Resources Advisory Group

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Southwest winner

Southwest Region

Grey Forest, Texas: $26.1 million of taxable gas system revenue bonds
Underwriter: FHN Financial Capital Markets
Bond counsel: Norton Rose
Municipal advisor: SAMCO Capital Markets
Insurer: Build America Mutual

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Innovative - South Carolina

Innovative Financing

South Carolina Jobs-Economic Development Authority’s RecoverSC program: $10 million City of Columbia and $1.325 million County of Bamberg, private placements
Placement agent: Stifel Nicholas & Company, Inc.
Bond counsel: Parker Poe Adams & Bernstein LLP
Investor: Rosemawr Management LLC

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Small issuer - Buffalo

Small Issuer Financing

Buffalo Sewer Authority: $49.16 million for its green sewer system environmental impact revenue bonds
Underwriter: Morgan Stanley
Bond counsel: Barclay Damon
Municipal advisor: Capital Market Advisors
Insurer: Build America Mutual

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Healthcare financing

Healthcare Financing

SouthEast Alaska Regional Health Consortium: $300 million taxable bond issuance
Underwriter: BofA Securities
Bond counsel: Foster Garvey PC
Municipal advisor: Ponder & Co.
Insurer: Assured Guaranty insured $150 million of the deal

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P3 - Empire Thruway

Public-Private Partnership Financing

Empire State Thruway Partners: $269 million financing of tax-exempt private activity bonds for the New York State Thruway Authority Service Areas Project
Underwriter: Citigroup
Bond counsel:  Cozen O’Connor
Municipal advisor: National Bank Financial

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ESG/Green - Newark
TAMARA A. FLEMING

ESG/Green Financing

The Board of Education of Newark, New Jersey: $93.9 million of sustainability school energy savings obligation refunding bonds
Underwriter: Siebert Williams Shank & Co.
Bond counsel: Wilentz, Goldman & Spitzer, P.A.
Municipal advisor: Phoenix Advisors
Insurer: Build America Mutual

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