Loop Capital Passes $1T Mark in Muni Bond Underwriting

Loop Capital Markets has surpassed the $1 trillion mark in underwriting municipal bond deals since it was founded almost 18 years ago, the firm announced on Tuesday.

Loop Capital was established in 1997 in Chicago. The firm said it has participated in muni bond transactions with more than 2,500 state and local governments, higher education institutions, transportation and housing agencies and public power and utilities in 49 states, Puerto Rico and Washington, D.C.

The milestone is a major one for the private investment bank, whose public finance division was created within a year of the company's formation.

"This is truly a very exciting time for our business," Jim Reynolds, Loop Capital's Founder, Chairman and CEO, said in a release. "We have reached a level of excellence and scale in our businesses that will propel our firm to substantial growth as we move forward. Within the next three years, I fully expect to exceed the accomplishments that took us over a decade to achieve."

Reynolds is a 30-year veteran of the financial services industry. He formerly led the Midwest Municipal Bond Sales Desk at PaineWebber in Chicago and worked at Merrill Lynch, where he managed the municipal sales team in the Midwest.

In 1997, he and Albert R. Grace, Jr. formed Loop Capital. The company is now the largest minority-owned financial services firm in the U.S. and one of the largest privately held investment banks in America.

 

 

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