Ann D. Fillingham

Representative Transactions

• Bond counsel to the Michigan Finance Authority restructuring $226 million of public debt of the School District of the City of Detroit, Michigan to match-fund new security cash flows, as part of a larger governmental restructuring.
• Underwriter’s counsel for Barclays on the City of Detroit, Michigan $606 million financing, publicly refunding prior City municipal obligations post-bankruptcy.
• Bond counsel to the Michigan State Building Authority on its 2011 $648 million, 2013 $583 million, 2015 $989 million and 2016 $665 million new money and refunding transactions, securing present value savings and allowing the Authority to consolidate all its $2.9 billion of debt in a single bond indenture.
• Bond counsel to the Michigan Finance Authority on a $11 million tender and related $16 million refunding and reoffering of the City of Allen Park, Michigan, allowing the City to restructure debt for a failed movie studio project which had been the basis for SEC investigations and cease and desist orders.
• Provider counsel in connection with an agreement with the Michigan Department of Transportation for freeway lighting as a design-build-finance-operate-maintain project.
• Counsel to Detroit Water and Sewerage Department on a $5 billion voluntary open market tender solicitation and related $1.79 billion refunding transaction capturing present value savings, avoiding a bankruptcy-related cram-down and obtaining consents necessary to implement the system transfer to the regional Great Lakes Water Authority.
• Underwriter’s counsel on a $185 million financing for a Public Lighting Authority street lighting project.
• Underwriter’s counsel for Barclays on the City of Detroit, Michigan $120 million post-petition financing, together with its $275 million exit financing, consummated on date of City’s exit from bankruptcy.
• Underwriter’s counsel on a $2.9 billion Michigan Finance Authority issuance of Unemployment Obligation Assessment Revenue Bonds, which enabled the State of Michigan to utilize the public markets to achieve savings and restructure a significant federal liability.
• Counsel to the Michigan Higher Education Student Loan Authority on its $1.01 billion monetization of its student loan authority portfolio through a federally established finance conduit established following collapse of the auction rate securities market; also acted as bond counsel to the Authority in issuance of FRN and other related financings to secure long-term take-out funding of the interim facility.
• Bond Counsel to the Michigan Tobacco Securitization Finance Authority on $202 million and $523 million bond issues, securitizing Michigan tobacco related revenues to fund State projects.