Municipals

Lehman Brothers is a leading underwriter of municipal securities, and the industry's preeminent leader in developing innovative solutions to meet our clients' financing objectives. Our Municipal Product Group combines banking, underwriting, research, sales and trading, and reinvestment services for the benefit of our clients.

 Municipals side image
Notable Recent Transactions
State of California:   $7.9 Billion Economic Recovery Bonds
State of Texas:   $3.8 Billion Tax Revenue Anticipation Notes
New York City Metropolitan Transportation Authority:   $1.7 Billion State Service Contract Bonds
Puerto Rico Public Finance Corporation:   $1.2 Billion Commonwealth Appropriation Bonds
New York City Transitional Finance Authority:   $1.2 Billion Future Tax Secured Bonds
The securities having already been sold, this announcement is for informational purposes only and is not an offer of securities.

Public Finance Department
Our Public Finance professionals provide investment banking expertise to the full range of public sector clients, including state and local governments, public authorities, federal agencies, not-for-profit organizations and public/private consortia. Our comprehensive approach to client coverage integrates the expertise of our specialty bankers who offer in-depth industry and technical expertise, and the expertise of our regionally-based bankers located strategically throughout the United States.

  Specialty Groups
  Education
  General Infrastructure  
  Healthcare
  Housing
  Project Finance
  Transportation
  Utilities
  Regional Groups
  New York, NY
  Boston, MA
  Chicago, IL
  Houston, TX
  Los Angeles, CA
  Miami, FL
  San Juan, PR 		  San Francisco, CA  
  Seattle, WA
  Washington, D.C.

Municipal Research, Sales & Trading Department
Our Municipal Research Team has garnered consistent recognition by Institutional Investor as one of the top three municipal research departments in the industry. By maintaining in-depth coverage of various credit sectors, including transportation, utilities, hospitals, housing, project financing, and below-investment-grade industrial revenue bonds, our analysts are able to anticipate changes in trends and the regulatory environment that may affect our clients.

Our Sales and Trading Team dominates the industry by making active secondary markets in more municipal issues than any other firm. We are also the industry leader in providing trading advice and strategy — the direct result of our work on Lehman Brothers' Municipal Bond Index. Our Municipal Bond Index is the most widely used measure of municipal market performance.

Municipal Derivatives and Investment Products Group
Our Municipal Derivatives and Investment Products Group provides comprehensive services and products for municipal investors and issuers to enhance investment returns, minimize borrowing costs and more effectively manage assets and liabilities. With over 2,600 transactions for the investment and management of municipal bond-related proceeds and debt totaling over $150 billion over the past ten years, this group has consistently been recognized by the industry for its innovation and client solutions.