Jump to Navigation

Top Matters

Bracewell Represents Merrill Lynch, Pierce, Fenner and Smith, Inc. in Public Offering of $500 Million Note

August 13, 2012

Bracewell & Giuliani recently represented Merrill Lynch, Pierce, Fenner and Smith, Inc., the underwriter in the public offering of a $500 million note by the Texas Public Finance Authority issued on behalf of the Texas Windstorm Insurance Association. The Texas Windstorm Insurance Association is an association of insurers created by the State of Texas by statute to provide basic wind and hail insurance coverage for gulf coast property owners who might otherwise be left uninsured. Proceeds of the note will be used by the Association to pay expenses of the Association, including but not limited to the payment of claims, in the event that a hurricane or other catastrophic event occurs along the Texas Gulf Coast during the 2012 hurricane season.