Miller Canfield Ranked First in Michigan, Second in Illinois for Municipal Bond Work
Miller Canfield is pleased to announce that it ranks first among Michigan bond counsel firms, based on $3.225 billion in par amount, second in Illinois, based on the number of issues, fourth among firms in the Mideast region, and 29th nationwide in the 2024 bond counsel rankings, based on data provided by London Stock Exchange Group (LSEG), formerly Refinitiv.
Miller Canfield, a full-service law firm headquartered in Detroit, completed 100 long-term new bond issues in 2024, totaling nearly $3.910 billion.
The firm expanded its public finance group with the addition of six experienced practitioners in its Chicago office in 2024.
Highlights of Miller Canfield’s public finance work in 2024 include:
- Served as bond counsel to Michigan State University in connection with the issuance of $361.64 million in general revenue bonds to finance new construction and critical infrastructure projects, including the construction of a new health sciences research facility in Detroit. The new research facility is a hallmark of a 30-year affiliation between Michigan State University and Henry Ford Health System; the two entities will conduct coordinated biomedical research in the new facility.
- Served as lead bond counsel for the issuance of $842.85 million in bonds by City of Chicago’s Sales Tax Securitization Corporation, the proceeds of which were used to refund certain outstanding general obligation bonds of the City and repurchase and cancel by means of a tender offer certain outstanding bonds of the City and the Corporation.
- Served as bond counsel to the State Building Authority of Michigan in connection with the issuance of $188.655 million in fixed and variable rate bonds to finance and refinance various facilities focusing on sustainability, innovation and the health and safety of Michigan residents.
- Served as bond counsel in connection with bond issuances totaling $300.685 million for the Detroit Regional Convention Facility Authority to finance the first phases an improvement and expansion plan for the Huntington Place convention center.
- Served as bond counsel to Central Michigan University in connection with the issuance of $52.575 million in general revenue refunding bonds to refinance fixed-rated indebtedness for interest cost savings and certain variable rate indebtedness to eliminate interest rate, market and liquidity risks.
- Served as co-bond counsel for the issuance of $300.2 million in bonds issued by the City of Chicago to refinance prior bonds issued for its water system.
Miller Canfield has the largest dedicated municipal finance group in Michigan, with extensive experience in all areas of public finance, including capital projects and infrastructure improvements, public-private partnerships, economic development projects, government and regulatory affairs, environmental response projects, and state and federal tax.
