State and local governments issue more than $400 billion in municipal debt each year. These high-stakes, public benefit financings carry unique obligations, along with challenges in pricing norms, regulatory scrutiny and process transparency. Katten has guided the nation's largest cities, districts and bond underwriters for decades. Our steady-handed structuring of municipal bond transactions helps clients clear compliance hurdles and political pitfalls to achieve on-time closings.

At the center of tax-exempt and taxable public financings

We represent issuers, underwriters and investors in tax-exempt and taxable municipal securities offerings coast to coast, including in Alaska and Hawaii. Bond borrowers and investors rely on our legal opinions and counsel on disclosures, validity of the issuance, validity of the security and interest tax‑exempt status. Katten has helped clients understand barriers to issuance, and how to surmount them, in countless tax-and revenue-secured bond financings of:

  • Airports and seaports
  • Cultural institutions
  • Health care facilities
  • Highways and bridges
  • Parking facilities
  • Power and utility systems
  • Public housing
  • Public private partnerships (P3)
  • Public and nonprofit universities
  • Transportation infrastructure
  • Schools
  • Sports and convention facilities.
Keeping issuers and underwriters in step with bond markets

Katten's commonsense advice digs deeper than just defending federal and state tax exemptions. As counsel to bond issuers, we represent state and county governments, agencies, authorities, schools and special-purpose districts. We communicate and coordinate closely with government teams on the issues that matter. Whether public borrowers issue bonds frequently or occasionally, our cooperative deal style and practical guidance minimize risk and keep closings on track.

For national and regional investment banks, financial institutions and other underwriters, our veteran bond team focuses on stability, disclosures and compliance. We help you meet your obligations under the Internal Revenue Service, US Securities and Exchange Commission and Municipal Securities Rulemaking Board regulations. Our national network of finance professionals adds value to Katten's legal analysis, creative structures and regulatory guidance in the public bond markets.