HilltopSecurities Clients Win The Bond Buyer’s Deal of the Year Awards
DALLAS, December 16, 2020 – The Bond Buyer recently announced that two HilltopSecurities public finance clients have been recognized with the 2020 Deal of the Year Awards. The DFW International Airport (the Airport) won Southwest Regional Deal of the Year, while the Arizona Industrial Development Authority’s financing for Nebraska’s Lincoln South Beltway project was named Public-Private Partnership Deal of the Year.
The Southwest Regional Deal of the Year recognized the Airport’s Joint Revenue Refunding Bonds, tax-exempt Series 2020A, 2020B, and taxable Series 2020C. HilltopSecurities served as co-financial advisor for the $2.05 billion issuance, which provided the Airport over $600 million in debt service savings through refinancing and provided financing for the construction of four new terminal gates, a new Integrated Operations Center, and several airfield projects.
When the Airport priced the first of the three issuances on July 14, 2020, they decided to accelerate the bond program based on investors’ positive interest in the bonds. The transaction marked the first time a tax-exempt entity successfully priced three separate bond deals within 16 days and was the first bond issuance by a major airport during the pandemic. The innovative nature of the deal established future market credit spreads in the airport industry and encouraged multiple major U.S. airports to subsequently pursue bond deals in the pandemic environment.
HilltopSecurities served as financial advisor on the $236.8 million Arizona Industrial Development Authority financing for Nebraska’s Lincoln South Beltway project on behalf of Hawkins Construction, which won The Bond Buyer’s Public-Private Partnership Deal of the Year. The first-of-its-kind transportation project utilized an innovative contractor-led build finance structure to deliver the largest single-contract project in the history of the Nebraska Department of Transportation.
The Bond Buyer selected its 2020 Deal of the Year finalists based on “creativity, the ability to pull a complex transaction together under challenging conditions, the ability to serve as a model for other financings, and the public purpose for which a deal’s proceeds were used,” according to the publication.
View a complete list of HilltopSecurities’ award-winning public finance deals.
About Hilltop Securities Inc.
Hilltop Securities Inc. delivers forthright advice and tailored solutions to municipal issuers, institutions, broker-dealers, and individuals. The full-service investment bank and registered investment adviser is headquartered in Dallas, Texas, with offices across the United States. Areas of focus include public finance; municipal and taxable fixed income underwriting, sales, and trading; retail brokerage services; securities clearing; structured finance; and securities lending. A wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH), HilltopSecurities’ affiliates include Hilltop Securities Independent Network Inc., PlainsCapital Bank, and PrimeLending. Learn more at www.HilltopSecurities.com. Member: NYSE/FINRA/SIPC.
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