Hunton Andrews Kurth Advises Initial Purchaser on Securitized Bonds Offering

Hunton Andrews Kurth LLP acted as counsel to the initial purchaser on an offering of Securitized Bonds (the “Bonds”) sponsored by a Texas cooperative. The Bonds were sold in accordance with a Financing Order (“Financing Order”) approved by the board of directors of the cooperative pursuant to a Texas statute adopted to enable such financings in the wake of Winter Storm Uri. The Bonds proceeds will be used to pay the expenses of the issuance and sale of the Bonds and to purchase securitized property from the cooperative. In accordance with the Financing Order, the cooperative will use the proceeds from the sale of the securitized property to address extraordinary costs and expenses and other qualified costs related to Winter Storm Uri.

The Hunton Andrews Kurth team included Michael Fitzpatrick, Adam O’Brian, Michelle G. Chan, Matthew A. Hayes and  Monika M. Dziewa. Jason Harbour assisted with certain bankruptcy advice, Shawn Regan and Kate Perkins assisted with certain constitutional law matters, Leslie A. Okinaka provided ERISA advice and Carry Tolley, Anna Page and Tim Strother provided tax advice.