Buyside Representation
Barnes & Thornburg is one of only a handful of public finance firms nationwide that has experience representing institutional investors, insurers, indenture trustees, and bond insurers in the limited offering and private placement of high-yield municipal bonds. Our attorneys have worked with many of the largest mutual funds, insurance companies, investment management firms, and municipal hedge funds, particularly in financings involving bioenergy, resource recovery and recycling facilities, healthcare and educational facilities, student housing, charter schools, transportation, and governmental facilities.
The team advises investors in high-yield municipal securities on recoveries and risk mitigation, including negotiating financing terms related to defaults and remedies, lock boxes, pledges of distinct revenue streams, mortgages, security agreements and membership interest pledges, collateral assignments of contracts and intellectual property, intercreditor and subordination issues, and robust financial and operating covenant packages.
Clients benefit from regular guidance on developments in bankruptcy law and the evolving legal landscape around pledges, statutory liens, and special revenue bonds. The firm also assists with due diligence, collateral audits, and internal approval processes. Our experience across all public finance sectors allows us to efficiently review and negotiate financing documents to protect bondholder rights, and we handle trust instruction proceedings in state courts on behalf of indenture trustee clients.
We have experience representing investors, insurers, and indenture trustees in matters involving bondholder consent solicitations, workouts, restructurings, and bankruptcies. Our attorneys have played roles in landmark Chapter 9 municipal bankruptcy cases. Several of our attorneys are consistently ranked among the top in municipal bankruptcy, with recognition from The Legal 500.
Clients have access to a broad team covering litigation and bankruptcy, securities, finance, real estate, distressed real estate, secured transactions, intellectual property, environmental, and tax law, providing comprehensive guidance across all elements of financings, workouts, and restructurings both in and out of court. We regularly advise on communications with debtors, exercise of intermediate remedies including debtor-in-possession loan facilities, and more aggressive recovery strategies such as appointment of receivers or chief restructuring officers, and enforcement of membership interest pledges and collateral liens. Members of our Distressed Assets and Opportunities group bring extensive experience with bond defaults, workouts, restructurings, and bankruptcies, offering clients multidisciplinary expertise across capital recovery strategies.