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Structured Debt

Municipal Finance

Local infrastructure funding builds stronger communities

By supporting the public debt, providing credit enhancement and funding clients such as governments, transportation authorities, higher education, private PPP sponsors and nonprofit organizations, we are practicing our belief in strong communities creating a more sustainable world. Our team has the expertise and experience to help clients create the outcomes they desire for their constituencies.

Critical role for public sector

We provide capital market solutions to support the needs of the public sector. Our Public and Infrastructure Finance team works with state agencies, municipal authorities, developers, private sponsors, and other parties to provide loans and letter-of-credit support for short-term securities and long-dated project bonds.

Client solutions at the forefront

In the municipal finance sector, our team also specializes in liquidity and credit enhancement for short-term variable-rate floating-rate securities related to general obligation and revenue-backed municipal debt programs.


For U.S. clients, we provide credit enhancement, liquidity, and funding, including construction financing and bridge loans in support of debt issuance by state and local governments, authorities, and essential service providers to fund specific public projects, including:

  • Water and sewer
  • Airports
  • Transportation (roads, bridges, light rail)
  • Essential services infrastructure including public power
  • Education
  • Housing finance agencies
  • Hospitals and other healthcare entities

Debt issued may be in the form of:


  • General obligation (GO) bonds of state and local governments
  • Water and sewer revenue bonds
  • Electric and gas transmission and generation project bonds
  • Public power bonds
  • Special dedicated tax or other revenue bonds
  • Airport and port revenue bonds
  • Appropriations/certificates of participation/municipal leases
  • Toll road and bridge bonds


Our services:


  • Direct pay and standby letters of credit (liquidity facilities)
  • Revolving lines of credit, construction loans, bridge loans
  • Direct loans (tax-exempt and taxable)
  • Direct lending to municipal issuers and public and private partnership (PPP) project sponsors
  • Direct purchases of municipal debt and municipal indexed floaters (tax-exempt and taxable)
  • Interest-rate hedging solutions1
  • Commodity hedges1



1
Our services are provided by SMBC Capital Markets, Inc.


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