Electric Utilities, Generation and Transmission

  • Overview
  • Attorneys
  • News
  • Publications

Kutak Rock has worked on a wide range of financing transactions for public and investor-owned electric utilities. As bond counsel, we have the rare distinction of having done the legal work to create a public utility, and have participated in a broad spectrum of tax-exempt financings including generation and transmission facilities, environmental and performance upgrades, distribution networks and working capital related to the aforementioned projects. Recently, we have been involved in a number of transactions financing the conversion of coal-fired plants to natural gas. 

Our work on behalf of electric utility issuers has included senior bond revenue transactions, commercial paper, “minibonds,” subordinate bonds and separate system bonds (debt supported by payments from other utilities under participation agreements). We frequently provide tax opinions on new money issues and both current and advance refunding transactions, and have extensive experience in analyzing issues related to Section 142 exempt facility financings. Kutak Rock attorneys have been among the first to assist clients in availing themselves of novel financing opportunities, including “Build America Bonds” and “Clean Renewable Energy Bonds.” As bond counsel, our extraordinary tax depth and experience enables us to provide confident, creative answers to client issues by drawing on our years of practical experience across the full range of public finance specialties and our extensive network of contacts within the private tax counsel community and the government.

As counsel to underwriters and credit enhancers, Kutak Rock has worked on an equally broad range of electric utility financings. Our geographic scope and depth of subject matter expertise allow us to proactively identify issues and structure solutions quickly and efficiently. Whether an issue relates to real estate matters, federal or state securities laws, bankruptcy or uniform commercial code questions, federal or state tax credits, interest rate hedges or variable rate bond structures, we have attorneys familiar with the subject matter and are able to suggest alternatives and provide practical, experience-based advice.