Press Release

Ballard Spahr Provides Counsel in $203 Million Tax-Exempt Securities Transaction

March 11, 2024

Ballard Spahr served as placement agent’s counsel and special counsel to Hilltop Securities Inc. in connection with Preston Hollow Community Capital’s financing of $202.5 million in Tax-Exempt Pooled Securities financed through the Public Finance Authority (PFA).

The financing consisted of $135 million in Class A Certificates issued by PFA, which were assigned an Aa2 (sf) credit rating from Moody’s Investors Service, and $67.5 million of Class B Certificates issued by PFA, which are not rated.

Partners Benjamin W. Johnson and William C. Rhodes led the Ballard Spahr team that worked on this transaction. They were assisted by Associate Megan McCarthy. All three are members of Ballard Spahr’s national Finance Department and Public Finance team.

For further information, please see Preston Hollow Community Capital’s press release.

For media inquiries, please contact Will Ashenmacher at 612.371.5792.

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