ATLANTA (July 10, 2020) – Holland & Knight served as bond counsel and disclosure counsel to the City of Houston, Texas, in its $230 million sale of tax and revenue anticipation notes (TRANs). The competitive sale occurred on July 8.
Seven groups won the TRANs, including Bank of America, Goldman Sachs, Morgan Stanley, PNC Capital Markets, Wells Fargo Securities, RBC and JPMorgan. Proceeds from the sale will be used to finance a portion of the city's general operating expenditures for FY2021 in anticipation of the collection of taxes and revenues.
Holland & Knight Partner Derrick Mitchell led the firm's representation of the city. He was assisted by Senior Counsel Edward Rojas, who provided tax advice. The firm also advised the City of Houston on a similar issuance for $200 million in 2019.
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