DALLAS, December 17, 2025 – The Bond Buyer has announced that two Hilltop Securities Inc. (HilltopSecurities) public finance clients were recognized as winners of its 2025 regional Deal of the Year awards. The Dallas Fort Worth International Airport (DFW) and its owner cities, Dallas and Fort Worth, were recognized as the winner of the 2025 Southwest Region Deal of the Year, while the New York Energy Finance Development Corporation (NYEFDC) was recognized as the winner of the Northeast Region Deal of the Year. HilltopSecurities served as lead financial advisor on the DFW transaction, along with Estrada Hinojosa, and served as financial advisor on the NYEFDC transaction. HilltopSecurities clients have now been recognized as Deal of the Year winners a total of 34 times.

“We’re excited to congratulate our clients for being recognized with these 2025 Deal of the Year Awards,” said HilltopSecurities President and CEO Brad Winges. “This recognition is another example of HilltopSecurities’ deep experience in the municipal market and our more than 80 years of leadership in municipal finance.”

Southwest Region Deal of the Year
The Southwest Region Deal of the Year recognized DFW’s $1.967 billion revenue bond offering in September, which represented its largest single-day financing and the largest airport revenue bond sale since 2018. The transaction included $300 million in bonds subject to a mandatory tender that locked in $27 million in interest savings as DFW continued financing for its ongoing $12 billion capital improvement program. The mandatory tender bonds were well received by investors, with DFW receiving over $1.1 billion of orders, which represented a 3.7 times subscription level.

“This marks the second consecutive year that DFW Airport has been recognized with the Southwest Region Deal of the Year, and we’re extremely proud to work with such an important and innovative client to help them accomplish their financing goals,” said Mike Bartolotta, HilltopSecurities’ Co-Head of Public Finance.

Northeast Region Deal of the Year
The Northeast Region Deal of the Year recognized a $944.15 million issuance of energy supply revenue bonds issued by the NYEFDC, an entity created by the New York Power Authority (NYPA) for the transaction. The bonds prepaid 30 years of electricity for the NYPA—saving 10% for the authority’s customers—and marked the first-ever prepaid energy deal priced in New York. The bonds were rated A1 by Moody’s Ratings.

“It was a privilege to work with the New York Power Authority on this complex transaction that served to deliver substantial savings to energy customers in the state,” said David Medanich, HilltopSecurities’ Co-Head of Public Finance. “It demonstrates that it’s possible to achieve extremely positive outcomes when talented teams think outside the box to reach a common goal.”

About Hilltop Securities Inc.
HilltopSecurities is a full-service municipal investment bank and wealth advisory firm providing a full suite of financial services for public entities, institutional investors, housing finance agencies, broker-dealers, and individual investors. Founded in 1946, its primary areas of focus include public finance, capital markets, structured finance, retail brokerage, clearing services, and securities lending. Hilltop Securities Inc.’s goal is to build long-term relationships to help communities, businesses, and individuals thrive. A wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH), HilltopSecurities’ affiliates include Momentum Independent Network, HilltopSecurities Asset Management, HilltopSecurities Insurance, PlainsCapital Bank, and PrimeLending. Learn more at HilltopSecurities.com. Member: NYSE/FINRA/SIPC.

CONTACT: 
Hilltop Holdings Inc.
Ben Brooks
214.252.4047
Ben.Brooks@Hilltop-Holdings.com