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Lender/Letter of Credit Bank Counsel

Thompson Coburn advises commercial banks that are either purchasing government or conduit bonds, rotos or other obligations for their own account or issuing letters of credit in support of such issues. The firm also advises other credit facility providers on credit enhancement for health care, education, housing and other public finance transactions, including transactions syndicated or participated among multiple banks.
Partners
Bettendorf, Henry A.
Bond, Christopher S.
Kotthoff, Sara E.
Lause, Michael F.
Lawton, Richard L.
Mitchell, Steven B.
Rush, Deborah K.
Thomas, Rhonda C.
Thorp, Lisa K.
Wild, Steven R.
Associates
Tilghman, Alexandra R.
Wilson, Brandi M.
Clients
  • Brentwood School District
  • Chicago Transit Authority
  • City of Chicago
  • City of St. Louis Land Clearance for Redevelopment Authority
  • City of Washington, MO
  • Francis Howell School District
  • Land Clearance Redevelopment Authority of the City of St. Louis
  • Mills Group
  • Missouri Health and Educational Facilities Authority (MOHEFA)
  • Missouri Higher Education Loan Authority (MOHELA)
  • Missouri State Employees Retirement System (MERS)
  • Pattonville School District
  • Saint Louis Zoo
  • St. Louis County
  • St. Louis Regional Convention and Sports Complex Authority
  • Southeast Missouri State University
  • University City School District
  • University of Missouri

Investment Bankers and Financial Institutions
  • Bank of America
  • Citibank, N.A.
  • Edward Jones
  • Fifth Third Bank
  • George K. Baum & Company
  • Great Southern Bank
  • Piper Jaffray Inc.
  • PNC Bank
  • Stern Brothers & Company
  • Stifel Nicolaus & Company, Inc.
  • U.S. Bank
  • Wells Fargo Advisors
  • William Blair & Company

Lender/Letter of Credit Bank Counsel
Our attorneys served as letter of credit bank counsel in connection with more than $400 million in bond and other financings for PeaceHealth, an integrated multi-state hospital and health care system in the Pacific Northwest. The bonds were structured as variable rate securities issued by two state authorities, and were enhanced by bank letters of credit provided by a syndicate of multiple banks led by two issuing banks. The firm documented both the bond letter of credit materials, as well as the bank syndicate materials. Our attorneys also represented the bank group agent in connection with a bridge line of credit that allowed the hospital system to access the credit markets in advance of the bond financing in order to avoid rising interest rates on its existing bond indebtedness.
Our lawyers represented U.S. Bank when it purchased $6 million of multifamily housing revenue bonds in order to finance the acquisition and rehabilitation of an existing affordable housing community in suburban St. Louis. The bond structure resulted from the State’s allocation of scarce private activity volume cap for a portion of the financing, and allowed for the remainder of the project costs to be financed on a taxable basis.
We served as bank counsel to U.S. Bank in connection with the issuance of variable rate revenue bonds to finance the acquisition and construction of low and moderate-income apartment facilities in two Southwest Missouri communities. The structure involved the issuance by the bank of letters of credit enhancing the tax-exempt revenue bonds and resulted in significant interest savings to the developer for both the construction and permanent financing of the project.