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.
In 2021 as a co-manager, Stern ranked number 18 of all firms, up from 21 in 2020 and 24 in 2019.

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

  • Underwriter and Remarketing Agent to NYC on its $100 million General Obligation Adjustable Rate Bonds, Fiscal 2022 D-4
  • Senior Manager to the City of St. Louis on its $14.3 million Airport Revenue Refunding Bonds (AMT), Series 2022A for St. Louis Lambert International Airport
  • Co-Senior Manager to the TBTA on its $928 million Payroll Mobility Tax Senior Lien Bonds, Series 2022A
  • Co-Senior Manager to CHFA on its $84 million Housing Mortgage Finance Program Bonds, 2022 Series B
  • Co-Senior Manager to State of California on its $534 million Central Valley Project Water System Bonds, Series BD & BE
  • Co-Senior Manager to NYC Housing Development Corporation on its $100 million Multi-Family Housing Revenue Sustainable Development Bonds (Index Floating Rate) (Federally Taxable)

Municipal Market Update 9.18.23