Winston Represents the Sponsor in The Bond Buyer’s 2021 P3 Financing Deal of the Year

Winston & Strawn represented the sponsor in the New York State Thruway Authority (NYSTA) Service Areas project in connection with the redevelopment, finance, operation, and maintenance of 27 service plazas along the Governor Thomas E. Dewey Thruway, one of the nation’s largest superhighway systems. The Winston team included Partner Mike Pikiel, who is a co-chair of the firm’s Energy & Infrastructure Industry Group and a co-chair of the firm’s Project Finance Practice Group, as well as Partner Patrick Selinger and Associate Dan Shapiro.

The Bond Buyer named the NYSTA Service Areas project its 2021 “Public-Private Partnership Financing Deal of the Year” for the project’s $269 million financing of tax-exempt private activity bonds. The project was lauded for its use of a P3 structure “to overcome adverse market conditions to successfully finance much-needed development along a major travel route.” This award also mark’s the project’s nomination as a finalist for The Bond Buyer’s 2021 “National Deal of the Year” award, which will be announced on December 16, 2021.

This is the 20^th year that The Bond Buyer has recognized outstanding achievement in municipal finance. Winners are judged on a range of factors, including “creativity, the ability to pull a complex transaction together under challenging conditions, the ability to serve as a model for other financings, and the public purpose for which a deal's proceeds were used.”