May 12, 2026
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Point of contact: Warren “Bo” Daniels, Managing Director, Head of Public Finance Division
Get in touchWe have continued to expand our municipal banking services, with specialized bankers that bolster coverage across higher education, healthcare, transportation, financial products, quantitative analysis and other areas. Our investment bankers provide issuers with state-of-the-art modeling capabilities and unparalleled expertise.
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We have served as a Senior Manager for some of the largest and most sophisticated issuers in the municipal marketplace and regularly rank among the Top 15 of municipal negotiated Senior Managers and among the Top 5 of negotiated Co-Managers. Since inception, we have served as Senior or Co-Manager on more than $1 trillion for issuers across nearly every state.
We understand that structure, risk and cost greatly vary from project-to-project. Our team has comprehensive modeling capabilities to assist clients in optimizing financing structures.
We have been a leader in Municipal M&A for more than 20 years.
Our group of private placement professionals possess an in-depth knowledge of the private investor base and works with clients to secure traditional and non-traditional means of raising capital for expansion, acquisitions and more.
The team takes a comprehensive look at our clients’ past and future objectives and develops strategic advisory plans to ensure they are in the best position possible for long-term gain and success.
Learn more about our unique approach to public finance.
Point of contact: Warren “Bo” Daniels, Managing Director, Head of Public Finance Division
Get in touchLoop Serves as Bookrunner and Dealer Manager for the City of Atlanta’s $1.116 Billion Water & Wastewater Subordinate Revenue and Revenue Refunding Bonds, Series 2026
On May 12th, 2026, Loop Capital Markets (the “Firm”) served as Bookrunning Senior Manager and Dealer Manager on the City of Atlanta’s (the “City”) $1.116 billion Water and Wastewater Subordinate Revenue and Revenue Refunding Bonds, Series 2026 (Sustainability Bonds). This transaction represented the capstone financing of the City’s multi-decade long consent decree with the U.S. EPA. The financing was rated Aa3 (Stable), AA- (Stable), and AA- (Stable) by Moody’s, S&P, and Kroll, respectively.
Proceeds of the transaction will be used to (i) fund the tender offer; (ii) takeout commercial paper; (iii) refund bonds that are currently callable; (iv) finance certain improvements to the Water system; (v) escrow to maturity select taxable bonds where underlying advance escrows have expired; and (vi) pay costs of issuance of the transaction.
The Firm crafted an electronic investor roadshow that was viewed by 117 investors with ~40 of these accounts having participated in the transaction.
As Dealer Manager on the tender, $789.595 million were offered (targeting bonds not defeased in 2024) and $197.165 million were tendered, equating to 25% participation.
In aggregate, the transaction achieved $90.252 million of NPV savings, or 9.309% of refunded par. The Firm showed market leadership by maintaining spreads between pre-marketing and pre-pricing despite a weaker tone in the Municipal and Treasury markets (other competing transactions widened spreads). Market sentiment was driven by higher-than-expected CPI that printed on the morning of pricing, coupled with hangover volatility from the fragile ceasefire with Iran. 118 unique investor accounts participated in the transaction (including several investors headquartered internationally), generating $5.3 billion of priority orders, resulting in 4.8x oversubscription. As a result of oversubscription, spreads were tightened by 2 to 15 bps across the curve. Conversely, MMD closed upwards of 5 bps higher on the day. $1.6 billion of orders dropped following re-pricing, resulting in final oversubscription of 3.3x.
May 12, 2026
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