Responding to Your Needs
Tender Option Bonds and Public-Private Partnerships
U.S. Bank Global Corporate Trust Services continues to remain relevant to our clients by providing thoughtful and timely responses to changing market needs. As regulatory requirements for the capital markets continued to expand, U.S. Bank worked with Merrill Lynch and acted as Trustee on the first tender option bond (TOB) transaction which is structured to meet the Volcker Rule changes and which will enable TOB's issuances to continue after the Rule is fully implemented.
Another area that has seen growth is the formation of Public-Private Partnerships (P3s) by municipalities and private companies to meet and complete the demands of infrastructure projects. As the number one ranked trustee in both the national municipal and national corporate trustee rankings, it was incumbent upon U.S. Bank to become a leader in serving the trust and escrow needs for the P3 product. Recent examples of our participation in the P3 market include:
Public Private Partnerships
| • | 95 Express Lanes LLC Public Private Partnership Project — Trustee, Collateral Agent and Securities Intermediary |
| • | U.S. Route 460 Corridor Improvements Project — Master Trustee |
| • | The Goethals Bridge Replacement Project Private Activity Bonds Series 2013 — Collateral Agent, Trustee and Intercreditor Agent |
| • | TxDOT Grand Parkway Transportation Corporation Toll Revenue Bonds Series 2013 (TIFIA component) — Trustee, Registrar and Paying Agent |
| • | East End Crossing of the Ohio River Bridges Project (Indiana Finance Authority) — Project Trustee |
| • | Chicago Transit Authority Bonds Series 2014 — 95th Street Terminal for CTA Rail Transit Line |
| • | State of Indiana (I-69 Section 5 Project) Series 2014 Bonds** |
Interested in learning more about our array of quality corporate trust products and services? Contact a member of our U.S. Bank Global Corporate Trust Services team today or visit us online at: usbank.com/corporatetrust.
**financial close pending
The information provided represents the opinion of U.S. Bank and is not intended to be a forecast of future events or guarantee of future results. It is not intended to provide specific investment advice and should not be construed as an offering of securities or recommendation to invest. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Not a representation or solicitation or an offer to sell/buy any security. Investors should consult with their investment professional for advice concerning their particular situation. Investment and Insurance products are:
| NOT A DEPOSIT | NOT FDIC-INSURED | MAY LOSE VALUE | NOT GUARANTEED BY THE BANK | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY |
The articles and information included in this newsletter are for your information and are not intended as legal, accounting or tax advice. U.S. Bank and its representatives do not provide legal, accounting and/or tax advice. Clients are encouraged to contact their legal, accounting and/or tax advisor regarding their particular situation. While the information is intended to be accurate, neither U.S. Bank Global Corporate Trust Services nor the publisher accepts responsibility for relying on the information provided. Images may be from one or more of these sources: ©Thinkstock, ©iStock, ©Fotolia. ©2014 U.S. Bank Global Corporate Trust Services. Member FDIC.