SAN FRANCISCO, July 16, 2005- LAWFUEL – The Law News Network -Orrick, Herrington & Sutcliffe LLP has been reappointed by California State Treasurer Phil Angelides to act as lead bond counsel for state general obligation bond issues for a two-year term starting July 1, 2005. Orrick has held this position for more than 50 years. The appointment was made following a request for qualifications process during which the treasurer’s office undertook a comprehensive review of numerous responses.
As lead bond counsel during the period July 1, 2002, to June 30, 2005, Orrick oversaw the issuance of more than $17.9 billion of state general obligation bonds, not counting deficit bonds. Orrick also was lead bond counsel for the sale of $10,896,000,000 of state economic recovery bonds, approved by the voters in March 2004, the first part of a $15 billion authorization to fund a portion of the accumulated budget deficit over a 15-year period.
In addition to the reappointment as lead bond counsel, Orrick was also appointed to act as disclosure counsel for state general obligation bonds, and will assist the state in preparing its economic and financial disclosures for all state bond offerings which are supported by the State General Fund.
Robert P. Feyer, a partner in Orrick’s public finance department who heads the team of lawyers and professional staff that work for the state treasurer, said, “We are pleased and gratified to be appointed again to this important position. The State of California is an important client, and we devote substantial energies to our work with many officials and agencies in the state government. The next two years will involve continuing challenges for the issuance of a current backlog of over $30 billion of authorized general obligation bonds.”
About Orrick’s Public Finance Group
Orrick’s public finance group has been ranked as the country’s leading bond counsel and underwriter’s counsel for much of the past decade. Orrick lawyers represent issuers, underwriters, private borrowers, credit providers, investment providers, swaps and derivative product providers, both in primary and secondary market transactions throughout the country.
Orrick, Herrington & Sutcliffe LLP is an international law firm with more than 700 lawyers in North America, Europe, and Asia. The firm focuses on litigation, public and corporate finance, and innovative transactions. Orrick clients include Fortune 100 companies, major industrial and financial corporations, commercial and investment banks, high-growth companies, governmental entities, start-ups, and individuals. The firm’s 15 offices are located in New York, Washington, D.C., San Francisco, Silicon Valley, Sacramento, Los Angeles, Orange County, Pacific Northwest, London, Milan, Moscow, Paris, Rome, Taipei, and Tokyo.