A more than 20% increase in par value and the number of financings completed helped Kutak Rock keep its ranking as the No. 1 bond counsel firm in Colorado for the second year in a row. According to the Thomson Reuters 2016 Year-End Colorado Municipal Market Analysis, the firm completed 107 issues totaling more than $3 billion, totals far surpassing other firms in both areas.
By comparison, Kutak Rock completed 86 transactions totaling more than $2.3 billion in 2015. The 2016 totals represent an increase of more than 29% and 24%, respectively.
Tom Peltz, co-chair of the Denver office’s Public Finance Department, remarked, “The volume of transactions demonstrates the depth of transactional experience at Kutak Rock for all forms of tax-exempt financing and confirms the client trust which we greatly value.” Anne Gish, co-chair of the Denver office’s Public Finance Department, also commented, “Lower interest rate refundings represented approximately two-thirds of the financings based upon par amount, with the balance of financings representing capital improvement projects within the state. Many of our Colorado local governments were able to advance their financial goals in 2016 and we are thankful for our role in that process.”
Thomson Reuters, a leading information source for the financial, legal, tax/accounting, scientific, health care and media markets, based the rankings and volume totals on all long-term municipal new issues underwritten and reported from Jan. 1, 2016 to Dec. 31, 2016.