Municipal Finance

The Stern Brothers’ Investment Bankers provide long-term financing solutions to corporations, municipalities, private companies and non-profit organizations located through the Country regarding infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of the borrower.

Stern has increased its volume of municipal new issues over the past year and garnered a number of new clients including the Metropolitan Washington Airports Authority, the Metropolitan Water Reclamation District of Greater Chicago, the State of Wisconsin, Los Angeles County, Hamilton County (OH), Somerset County (NJ), MARTA, Metropolitan Pier and Exposition Authority, Los Angeles World Airports and San Diego County Regional Airport Authority, among others.

Stern continues to move up in existing large issuer syndicates including these recent engagements:

  • Senior Manager to the City of St. Louis, Missouri on its $20.3 million General Obligation Bonds, Series 2023A
  • Co-Senior Manager to Miami-Dade County, Florida on its $448.64 million Seaport Revenue, Series 2023
  • Co-Senior Manager to Triborough Bridge & Tunnel Authority on its $1.65 billion Sales Tax Revenue Bonds (TBTA Capital Lockbox – City Sales Tax), Series 2024A
  • Co-Senior Manager to Cities of Dallas and Fort Worth, Texas on its $631.305 million Series 2023B transaction for Dallas/Fort Worth International Airport
  • Co-Senior Manager to the State of Connecticut on its General Obligation Bonds, Series 2023A&B

Municipal Market Update 5.20.24