Buyside Representations

In addition to our services as counsel to issuers, borrowers, and underwriters, Ballard Spahr's Public Finance Group serves as counsel to investors, bondholders, indenture trustees, and bond insurers in numerous municipal industry sectors, with a particular focus on offerings of high-yield municipal bonds and handling of special situations involving distressed credits, default administration, collateral impairment, exercise of remedies and recoveries.

Ballard Spahr is one of a handful of public finance firms in the nation (and the only firm based in Pennsylvania) that actively represents institutional investors, insurers, indenture trustees, and bond insurers in the limited offering and private placement of high-yield municipal bonds. We regularly represent buyside clients, including many of the largest mutual funds, insurance companies, investment management firms, and municipal hedge funds in offerings of a variety of high-yield municipal bond transactions; particularly financings involving bioenergy, resource recovery and recycling facilities, healthcare facilities, educational facilities and student housing, charter schools, transportation, and governmental facilities.


  • Served as counsel to the bond purchasers in connection with the issuance of $56,220,000 of Iowa Finance Authority Healthcare Facility Revenue Bonds to finance the acquisition of and improvements to a medium term mental health facility.
  • Served as bond purchaser counsel in the financing for the acquisition, construction, and equipping of a solid waste treatment, disposal, and recycling facility for the processing of solid food waste and biosolids to produce fertilizer, renewable electricity, and renewable natural gas in California.
  • Served as counsel to the senior bond purchasers in connection with a limited offering of a series of exempt facility revenue bonds to finance a portion of the costs to acquire a leasehold interest in an existing building in New Jersey and develop, construct, and equip a new facility to process municipal biosolids (sludge) into inert biochar for use as a land application and filtering medium and to produce renewable energy in a closed loop system to power a portion of the facility.