Carter Ledyard corporate partner Steven Paul McSloy and associate Guy Ben-Ami led the effort, representing Keybanc Capital Markets in bringing the Navajo Nation’s investment-grade rated tax-exempt general obligation bonds to market. The $52.9 million private placement was rated BBB+ by Standard & Poor’s and, as an unsecured full faith and credit issuance by the Nation and not tied to gaming, was unique among tribal financing transactions. The funds were used to refinance an existing bank loan that had been used to build courthouses and other public facilities on the Nation’ reservation.
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