Dacia A. Haddad

Overview

Dacia Haddad represents issuers, banks, investment banks, borrowers, and interest rate swap providers in all aspects of public finance transactions with a focus on complex and structured financings and financings for large governmental issuers. She provides advice with respect to structuring, re-structuring, offering, selling or placing, and issuing tax-exempt and taxable bonds, derivatives, and post-issuance tax and securities law compliance. Dacia works on virtually all types of public finance transactions for clients across a variety of industries and sectors such as health care, energy and utilities, education, higher education, infrastructure, and multi- and single-family housing.

Representative Matters

• Served as bond counsel and swap counsel to the City of Philadelphia in connection with the issuance of $313,285,000 Revenue Refunding Bonds for its municipally-owned utility consisting of five series of revenue refunding bonds and related interest rate swap transactions.
• Regularly serves as bond counsel to a state housing finance agency in connection with the issuance of multi-family and single-family bonds, including for example, in connection with the issuance of $66,800,000 of tax-exempt conduit revenue bonds, the proceeds of which were used to finance the rehabilitation, construction, and equipping of a condominium unit consisting of multi-family residential rental units and related retail improvements. The financed condo unit is a portion of a larger project consisting of the conversion of an unused department store into a mixed-use complex that will include multi-family low income and market-rate living units, arts and cultural center for the state university, and a grocery store and other retailers on the ground level. The bonds were a portion of the capital stack that financed the total project, which also included residential and commercial tax credits from the state, Section 42 tax credits, and developer equity. The financing structure used in this transaction was the first of its kind in the state.
• Represented a nonprofit senior living organization in connection with borrowing the proceeds of $40,320,000 of revenue bonds issued by an industrial development authority and, concurrently with the issuance of the bonds, negotiated with an existing lender to accept a parity obligation under the master trust indenture.
• Served as bond counsel to a railroad in connection with the issuance of multiple series of bonds secured and payable solely from certain grant receipts paid to the railroad under the Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Section 5309 Fixed Guideway Modernization Formula Funds Programs, and Section 5337 State of Good Repair Formula Funds.
• Served as underwriter’s counsel on the issuance of $477,245,000 Federally Taxable Revenue Bonds (Qualified School Construction Bonds – Direct Subsidy) and (Qualified Zone Academy Bonds – Direct Subsidy) issued by a state education financing agency in a pool deal structure with 31 underlying state school district borrowers.