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Hartford, CT, May 27, 2015 - Day Pitney LLP has represented the State of Connecticut as disclosure counsel in refinancing over $11 billion of the State's outstanding debt, as part of Treasurer Nappier's Debt Refinancing Program.
This week the firm completed a $181 million refinancing for the State, bringing the total savings for taxpayers to $1 billion over the course of State Treasurer Denise L. Nappier's administration. In addition to the $181 million refinancing, this month Day Pitney also advised on the issuance of $500 million of State of Connecticut fixed-rate General Obligation Bonds and $200 million of SIFMA-Index General Obligation Bonds, both of which will fund new projects.
The Treasurer's Office has refinanced or defeased $11.9 billion in bonds through the execution of 72 separate financing transactions since Nappier took office in January 1999. Day Pitney has advised on all of these offerings. These involved each of the State's bonding programs, including General Obligation Bonds, Special Tax Obligation Bonds for Transportation Infrastructure, Clean Water Fund Bonds, University of Connecticut Bonds, Bradley Airport Bonds, and other bonding programs, such as Second Injury Fund Bonds and Rate Reduction Bonds.
Finance partner Namita Tripathi Shah led the Day Pitney team on these transactions, which also included Judith Blank, Glenn Rybacki, Susan Albert, Teri McGehan and Karen Ashe.
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Day Pitney Press Release
On November 22, Connecticut Governor Dannel P. Malloy announced that he is appointing Jay Nolan to serve as his appointee on the state's recently created Municipal Accountability Review Board.
Day Pitney LLP has once again been recognized as Connecticut's number one bond counsel firm by volume, serving as bond counsel on issues in Connecticut totaling approximately $1.7 billion in 2016, according to The Bond Buyer, a daily newspaper serving the municipal bond industry.
Day Pitney Press Release
Hartford, Conn., May 26, 2016 - Day Pitney LLP represented the State of Connecticut as lead bond counsel and disclosure counsel in a general obligation refunding bond sale of $501.4 million. The sale resulted in saving of $75.5 million in debt service costs over the life of the refinanced bonds. The Nappier administration has an active debt refunding program which has saved taxpayers $1.1 billion to date.