We 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.

Underwriting

Project Finance

Municipal M&A

Direct and Private Placements

Structures and Specialized Finance

Underwriting

Our team of senior professionals offers a wide range of public finance investment banking and underwriting services to our municipal clients, including state and local governments, transportation entities including airports, toll roads, and mass transit agencies, water and sewer agencies, housing authorities, higher education institutions, and healthcare providers among other sectors.

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.

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Project Finance

Our Project Finance team leverages years of experience in varying market conditions to service our clients’ financing needs.

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.

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Municipal M&A

Our Municipal M&A group provides advisory services for both Brownfield and Greenfield projects in the utility, transportation, higher education and healthcare sectors.

We have been a leader in Municipal M&A for more than 20 years.

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Direct and Private Placements

Our team of skilled and connected professionals works with a broad range of investors and banking institutions to ensure clients have efficient and effective access to the large municipal private placement market.

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.

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Structures and Specialized Finance

Our team of structured and specialized finance experts works closely with clients to develop strategic offerings for restructurings and other unique circumstances.

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.

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Get in touch with the team

Learn more about our unique approach to public finance.

Point of contact: Warren “Bo” Daniels, Managing Director, Head of Public Finance Division

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Latest deals

Loop Capital Markets Serves as Senior Manager on Princeton University’s $300 Million Taxable Bonds, Series 2022

On May 17, 2022, Loop Capital Markets (“Loop” or the “Firm”) served as Senior Manager on Princeton University’s (the “University”) $300 million Taxable Bonds, Series 2022 (Corporate CUSIP). The Bonds were rated Aaa/AAA by Moody’s and S&P. The Firm also served as Co-Senior Manager on the University’s tax-exempt issuance through the New Jersey Educational Facilities Authority (totaling $300MM), which priced the same day.

The University elected to issue the taxable bonds in a long-dated maturity and issue the tax-exempt bonds in 5-year and 10-year maturities, and Loop assisted the University and its Financial Advisor to develop a Plan of Finance that best captured current market dynamics (e.g., tax-exempt-to-taxable ratios), debt management objectives, and Index Eligibility benefit. Broader Fixed Income Markets had a softer tone leading up to pricing due to concerns around inflation, slowing growth, and an increasingly hawkish FOMC, leading to investors increasingly focusing on credit quality, with greater appetite for high-grade names such as the University. Ultimately, Loop and the syndicate generated over $1 billion in orders and was able to successfully execute a transaction that resulted in a yield of 4.201% to the University.

Immediately following the release of the Preliminary Offering Memorandum, our salesforce and the syndicate actively began the pre-marketing process and contacted a broad range of prospective investors. Loop’s team compiled an investor analysis identifying the University’s top corporate buyers and targeting the top national higher education taxable bond holders. The Firm also facilitated a one-on-one call with an existing investor and the University that led to a large order which helped drive leverage in the order book.

A total of 57 accounts participated in the transaction, resulting in over $1 billion of orders, or 3.5x oversubscription. Participating accounts included a variety of investor types, including Insurance Companies, Bond Funds, Prop/Trading Accounts, Money Managers, Investment Advisors, ETFs and Banks. The transaction also had a strong reception from International Investors. The Firm targeted Insurance Companies during pre-marketing as likely to participate strongly in the transaction and these investors ultimately composed 43% of the initial order book. Due to strong subscription levels, the Firm was able to tighten spreads by 10 basis points to achieve a final spread of +100 bps.

May 17, 2022

Loop Capital Markets Serves as Senior Manager on Princeton University’s $300 Million Taxable Bonds, Series 2022

April 11, 2022

Loop Capital Markets Serves as Joint Bookrunner on Harvard University’s $500 million Taxable Bonds, Series 2022A

March 30, 2022

Loop Capital Markets Serves as Senior Manager on the NYC TFA’s $950 Million Future Tax Subordinated Bonds, Fiscal 2022 Series F, Subseries F-1

March 24, 2022

Loop Capital Markets Serves as Sole Manager and Remarketing Agent on Texas Transportation Commission’s $300 million State Highway Fund First Tier Revenue Bonds, Series 2014-B

March 14, 2022

Loop Capital Markets Serves as Bookrunning Senior Manager on the City of Pittsburgh’s $51.1 million General Obligation Bonds, Series of 2022

March 9, 2022

Loop Capital Markets Serves as Joint Bookrunner and ESG Coordinator on the University of Michigan’s $2 Billion General Revenue Bonds, Series 2022AB (Taxable)