Eckert Seamans Recognized for Innovative Alaska Railroad Financing with Bond Buyer’s Far West Deal of the Year
December 9, 2025
Firm Served as Bond Counsel for $112 Million Alaska Railroad Cruise Port Project
National law firm Eckert Seamans is proud to announce that it served as bond counsel for a $112 million Alaska Railroad Corporation transaction recently honored as The Bond Buyer’s 2025 Far West Region Deal of the Year, a distinction that celebrates creativity and excellence in municipal finance.
The recognized deal involved a $112 million issuance of cruise port revenue bonds by Alaska Railroad Corporation, which financed a new terminal and dock at the Port of Seward and is a critical infrastructure project supporting Alaska’s tourism economy. The transaction used a novel risk-transfer approach, purchasing the project with bond proceeds only after substantial completion, backed by ARRC equity and a pier usage agreement with minimum passenger guarantees. The Eckert Seamans team acting as bond counsel on the deal included Member Dacia A. Haddad and Of Counsel Robert I. Tuteur, with the assistance of Member Jennifer Caron and Paralegal Joy Doyle.
“This transaction exemplifies the power of creative public finance solutions to deliver transformative infrastructure,” said Haddad. “By structuring a deal that balanced risk, protected public interests, and supported economic growth, Eckert Seamans was proud to help the Alaska Railroad achieve a financing model that can serve as a blueprint for similar projects nationwide.”
For 24 years, The Bond Buyer’s Deal of the Year Awards have recognized transactions that exemplify ingenuity, complexity, and public benefit. Winners are selected by the publication’s editorial board based on factors such as creativity, ability to overcome challenges, and potential to serve as a model for future financings. To learn more about the Alaska Railroad Corporation deal, visit The Bond Buyer’s website.