CHICAGO, Ill. (October 7, 2014) - Perkins Coie closed a $200 million US Treasury guaranteed bond issue on September 25, 2014 for the Community Reinvestment Fund, Inc. (CRF), a Minneapolis-based non-profit that improves the lives of disadvantaged people and strengthens distressed communities through innovative financing. The bond issue will provide low cost capital to four nationally prominent Certified Development Financial Institutions (CDFIs) to invest in various community development purposes, including charter schools, healthcare facilities, rental housing, senior living and long-term care facilities and nonprofit lending. The four CDFIs are Capital Impact Partners, The Reinvestment Fund, Low Income Investment Fund and IFF (f/k/a Illinois Facilities Fund).
The bonds were issued in connection with the second round of the Community Development Financial Institutions (CDFI) Fund Bond Guarantee Program which was authorized by and completed under the Small Business Jobs Act of 2010. Perkins Coie advised CRF and served as bond counsel for the transaction and represented Community Reinvestment Fund. Perkins Coie has now served as bond counsel for $325 million of the $525 million of bonds issued under the first two rounds of the Bond Guarantee Program.
Led by Chicago partner Bruce Bonjour, the Perkins Coie team included Chicago partner Ed Wicks, Washington, D.C. Senior Counsel Darvin Davitian, Chicago Senior Counsel Marc Oberdorff and Chicago associate Melissa Oka.
About Perkins Coie: Founded in 1912, Perkins Coie LLP has more than 1,000 lawyers in 19 offices across the United States and Asia. The firm provides a full array of corporate, commercial litigation and intellectual property legal services to a broad range of clients, from FORTUNE 50 corporations to emerging growth startups, as well as public and not-for-profit organizations.
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