Bond Buyer, a respected information resource serving the municipal finance community, honored Great Lakes Water Authority with its 2017 “Deal of the Year” award for the Midwest region at December ceremonies in New York City. The utility was recognized for its $1.3 billion inaugural financing.
“The sale unlocked substantial debt service savings for ratepayers and provided necessary funds for water system capital projects at an attractive borrowing rate,” Bond Buyer said. Winners were chosen “for innovation, the ability to pull complex transactions 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.”