Loop Capital Markets Served as Bookrunning Senior Manager and Dealer Manager for CPS Energy Transaction Awarded the 2023 Bond Buyer Southwest Deal of the Year

Loop Capital Markets served as Bookrunning Senior Manager and Dealer Manager on City Public Service Board of San Antonio, Texas’ (CPS Energy) $636.580 million Revenue Refunding Bonds, New Series 2023AB, which in addition to the $100.340 million Series 2023 VRDBs was selected as the 2023 Bond Buyer Southwest Deal of the Year. Following the impacts of 2021’s Winter Storm Uri, the City of San Antonio authorized CPS Energy to submit a private letter ruling request to the IRS to permit certain extraordinary — and normally taxable — working capital costs to instead be financed tax-exempt long-term. The IRS concurred with CPS Energy’s analysis, resulting in an exception from certain long-term working capital regulations.