Baird Public Finance Transaction Receives "Deal of the Year" Award
Public Finance,Fixed Income Capital Markets
SHERMAN, Tex., Dec. 5, 2023 – A Baird Public Finance transaction has been honored as a 2023 “Deal of the Year” by The Bond Buyer, the only national daily newspaper dedicated to the municipal bond industry. The deal recognized was the Greater Texoma Utility Authority’s issuance of $208 million in Contract Revenue Bonds to fund major water and sewer infrastructure and prepare for the construction of a state-of-the-art semiconductor fabrication plant in Sherman, Texas. Baird served as senior managing underwriter to The Authority on the transaction, which was recognized in the Small Issuer category.
In the transaction, Baird helped the City of Sherman to secure funds much greater than what the Authority historically issued in public capital markets and reprice nearly every maturity, improving by two to eight basis points. The bonds were assigned an underlying rating of “A” by S&P and secured with BAM insurance.
“This award further exemplifies Baird’s innovative approach and commitment to outstanding client service,” said Brian Brewer, Baird’s Director of Public Finance. “We are incredibly pleased to be recognized amongst the top muni deals of the year.”
"Baird's Public Finance Team is proud to assist with the bond issuance on such an important and impactful project," added Bryan Derdenger, Managing Director, Municipal Underwriter at Baird.
"We take great pride in helping our clients meet their long-term financial goals. In this case, we were able to achieve a successful outcome for the Greater Texoma Utility Authority. To be acknowledged for the team's hard work from a respected authority like Bond Buyer is really the cherry on top," stated Mark Nitcholas, Managing Director, Public Finance Banker at Baird.
This is the seventh time since 2005 that a Baird public finance transaction has been honored by The Bond Buyer as a “Deal of the Year.”
About Baird’s Public Finance Group
Baird is a full-service broker-dealer firm that provides municipal underwriting and financial advisory services to public school districts, Charter Schools, Municipalities, Counties, Special Districts and Authorities, States, Developers, Higher Education and Healthcare entities. Over the past ten years, Baird has expanded its public finance headcount by more than 30%. Baird’s robust team of professionals combined with its nationally recognized underwriting desk allows the firm to serve and support the evolving needs of its clients. According to Ipreo MuniAnalytics, Baird ranks as the No. 1 municipal underwriter by number of issues collectively since 2009.
Baird is an employee-owned, international wealth management, asset management, investment banking/capital markets, and private equity firm with offices in the United States, Europe and Asia. Established in 1919, Baird has approximately 5,100 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $405 billion in client assets as of June 30, 2023. Committed to being a great workplace, Baird ranked No. 23 on the 2023 Fortune 100 Best Companies to Work For® list – its 20th consecutive year on the list. Baird is the marketing name of Baird Financial Group. Baird’s principal operating subsidiaries are Robert W. Baird & Co. Incorporated and Baird Trust Company in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s website at www.rwbaird.com.