The top bond counsel in 2023 handled a combined $361.721 billion across 7,164 bond issues versus $359.189 billion in 7,882 transactions in 2022.
The top 10 bond counsel, which welcomed three newcomers, accounted for $168.232 billion across 2,118 issues in 2023. The additions, Stradling Yocca Carlson & Ruth, Bracewell and Gilmore & Bell, knocked Chapman and Cutler, Squire Patton Boggs and Butler Snow out of the top 10.
Nashville, Tennessee, voters approved a $2 billion bond measure, while Lancaster County, South Carolina, and Cary, North Carolina, opposed the bond referendums.
Despite the post-election selloff, inflows continued this week as LSEG Lipper reported investors added $1.263 billion to municipal bond mutual funds for the week ending Wednesday, compared to $658.5 million of inflows the prior week. High-yield inflows returned.
The turnpike plans to sell $1 billion of revenue bonds in 2025's first quarter to continue funding for an expansion project now estimated to cost $8.2 billion.
States, cities, trade groups look toward uncertain future
The Bond Buyer's Deal of the Year awards will mark the 23rd year it has recognized outstanding achievement in municipal finance. The event, to be held Dec. 3 in New York City, will also include the presentation of the Freda Johnson Awards for Trailblazing Women in Public Finance.
Unless the state government makes changes to taxes or spending, there will be deficits of $587 million to more than $800 million starting in the next fiscal year.
