Introduction
Liz Columbo represents governments and public authorities, issuers, underwriters, financial institutions, and investors on tax-exempt and taxable financings for a variety of public infrastructure projects, with an emphasis on public power, transportation, multi-family housing facilities, as well as stadiums and arenas. She also advises clients with respect to regulatory developments and disclosure practices.
My focus
I focus my practice on four main sectors, leveraging more than 20 years of experience to help clients manage their most complex transactions.
Public Power
Much of my work involves serving as bond counsel, disclosure counsel, or underwriters’ counsel on financings for public power clients across the country, including the Florida Municipal Power Agency, South Carolina Public Service Authority (Santee Cooper), the Power Authority of the State of New York, the Massachusetts Municipal Wholesale Electric Company, Long Island Power Authority, Nebraska Public Power District, and JEA (Jacksonville, Florida), among others. My work includes public offerings, private placements and 144A financings, system and project financings, tax-exempt and taxable financings, secured and unsecured debt, senior and subordinated debt, fixed-rate and variable-rate debt, and derivatives. I have experience drafting disclosure documents, financing agreements, resolutions and trust indentures, escrow agreements, forward purchase and bond purchase contracts, letters of credit, continuing disclosure documents, and interest rate exchange agreements.
Transportation
I have worked as bond counsel or disclosure counsel for the New York Metropolitan Transportation Authority (MTA) and the Triborough Bridge and Tunnel Authority for over 25 years, including on the MTA’s landmark $17.32 billion bond restructuring program. I take pride in my ability to work as a team with my colleagues in the Public Finance group on transportation projects funded in whole or part by federal grants and loans, including Transportation Infrastructure Finance and Innovation Act (TIFIA) loans, federal highway trust fund moneys, and full funding grant agreements.
Stadiums and Arenas
I am experienced in representing governmental as well as private entities in tax-exempt and taxable debt financings involving the National Football League (NFL), Major League Baseball (MLB), and National Basketball Association (NBA) teams and their stadiums and arenas. This experience includes work on the stadium financings for the Yankees, Mets, Giants, Jets, Twins, and Nets and representation of the County of Erie, New York, in connection with the Buffalo Bills lease and related Ralph Wilson stadium renovations and the County of Loudoun, Virginia, in connection with the Loudoun United FC lease and soccer facilities financing.
Multi-family Housing Facilities
I represent multi-family housing facilities in various financings, including the New York State Housing Finance Agency. My experience includes tax-exempt commercial paper programs; variable, auction-rate, and option bonds; multiple forms of revenue bond financings, including many supported by various types of credit facilities; debt restructurings; pooled loan transactions; and derivative products, such as interest rate swaps.
Disclosure and Compliance
I spend a significant portion of my practice advising clients on regulatory developments and their compliance requirements. We serve as disclosure counsel (and often in our role as bond counsel) for some of the largest issuers of municipal debt throughout the United States and regularly advise clients with respect to their primary and secondary market disclosure responsibilities. I currently serve as counsel to the Bond Dealers of America, tracking all regulatory and practice developments within the municipal markets, drafting comments to regulatory organizations regarding regulatory developments, and preparing memoranda and other communications to assist municipal market professionals.
Looking ahead
Increasing guidance and regulatory oversight, designed to improve disclosure and increase transparency in the municipal securities market, will continue to impact all municipal market participants. I follow these actions closely to educate our clients about the implications of these actions and advise them of their changing disclosure and compliance responsibilities so they can avoid being targeted by regulators.
/Insights
- “Trends in Energy Finance,” The Workshop 2024 - National Association of Bond Lawyers (NABL), Chicago, IL, September 19, 2024
- “Energy Finance Panel,” The Workshop 2023 - National Association of Bond Lawyers (NABL), Chicago, IL, October 19, 2023
- “Issuer Disclosure Requirements for Selling ESG, Sustainable Bonds,” BondLink & Nixon Peabody's At the Forefront of ESG, Social Media, and COVID-19 Disclosures Conference, June 10, 2021
- “Disclosures and due diligence obligations during the COVID-19 crisis,” presentation to Indianapolis Bond Bank, May 22, 2020
In the news
- The Bond Buyer
MTA set to debut bonds backed by real estate transfer tax
Jan 13, 2025This article covering the New York Metropolitan Transportation Authority’s first bonds backed by its real estate transfer tax mentions NP for serving as co-counsel to the MTA. The NP team includes New York City partners Liz Columbo, Adam Gordon, and Johnny Hutchinson; Washington, DC partner Carla Young; New York City senior counsel Ken Lind and counsel Abbie Olsen; and New York City associate Georgia Sackey, all of the Project Finance & Public Finance practice.
- The Bond Buyer
New York Power Authority lights up market
Oct 24, 2024This article covering New York Power Authority’s $404.4 million of green revenue bonds brought to market this week mentions NP for serving as co-bond counsel on the deal. The NP team includes New York City partner Liz Columbo, Washington, DC partner Mitch Rapaport, New York City counsel Abbie Olsen, Washington, DC associate Noah Lebowitz, and New York City associates Kate Stack and Paul Dewey, all of the Project Finance & Public Finance practice.
- Florida Politics
Takeaways from Tallahassee
Aug 3, 2024This roundup of statewide news includes New York City Project Finance & Public Finance partner Liz Columbo’s recognition as the Florida Municipal Electric Association’s 2024 “Associate Member of the Year,” honoring an associate member who exemplifies extraordinary service and dedication to FMEA and Florida’s public power community.
- The Bond Buyer
New York TBTA to sell green bonds backed by state’s payroll mobility tax
Jan 16, 2024This article covers the Triborough Bridge and Tunnel Authority of New York’s plan to sell $300 million of tax-exempt green bonds, which will be used to finance transit and commuter projects in New York City. The article mentions NP for serving as bond counsel in the sale. The NP team includes New York City partners Liz Columbo and Adam Gordon, Washington, DC partner Carla Young, New York City senior counsel Ken Lind, and New York City associates Paul Dewey, Georgia Sackey, and Katharine Stack, all of the Project Finance & Public Finance practice.
- The Bond Buyer
Massachusetts public power agency closes bond deal for solar project
Jan 10, 2024This article covers the Massachusetts Municipal Wholesale Electric Company closing on a $15 million issuance of green bonds to complete the long-term financing of a solar project that will help six participating utilities meet the state’s upcoming emission targets. The article mentions NP for serving as bond counsel in the deal. The NP deal team was led by New York City partner Liz Columbo and included Washington, DC partner Mitch Rapaport, New York City counsel Barry Rothchild, New York City associate Paul Dewey, and senior paralegals Carolyn Yi-Medina and Patrick McGovern, all of the Project Finance & Public Finance practice.
- Crain’s New York Business
2023 Crain’s Notable Women in Law
June 19, 2023This article recognizes New York City Project Finance & Public Finance partner Liz Columbo as one the publication’s “Notable Women in Law” for 2023, honoring New York City attorneys who have performed consequential legal or pro bono work, served as mentors, promoted inclusivity, and assumed leadership roles in civil or philanthropic endeavors.
- The Bond Buyer
$765M Triborough Bridge and Tunnel Authority deal draws focus
Jan 5, 2023This article covers client Triborough Bridge and Tunnel Authority’s $765 million Payroll Mobility Tax Senior Lien Refunding Green Bonds, which were priced Thursday in the primary market. The NP team serving as bond counsel on this deal includes New York City partners Ken Lind, Liz Columbo, and Adam Gordon; Washington, DC partner Carla Young; New York City counsel Abigail Olsen; and New York City associates Kate Stack, Paul Dewey, and Georgia Sackey, all of the Project Finance & Public Finance practice.
- The Bond Buyer
Puerto Rico's restructured bonds will be exempt, and provide fresh high-yield liquidity
This article on Puerto Rico’s restructured general obligation bonds mentions NP for the firm’s determination that the bonds will be tax-exempt. The NP team is comprised of New York City partners Virginia Wong, Ken Lind, and Liz Columbo, and associate Sebastian Torres; Washington, DC partners Mitch Rapaport and Carla Young; and Los Angeles partner Angelica Valencia, all of the Project Finance & Public Finance group.March 3, 2022 - The Bond Buyer
Market sectors and segments pointed volume down in the Northeast
The article on the state of the municipal bond markets mentions NP for serving as bond counsel on the Triborough Bridge and Tunnel Authority’s $1.24 billion payroll mobility tax senior lean deal for MTA Bridges and Tunnels. The NP team included New York partners Liz Columbo, Ken Lind, Adam Gordon, Chris Reitzel, and counsel Abigail Olsen, and Washington DC partner Carla Young, all of the Project Finance and Public Finance group.Feb 25, 2022 - The Bond Buyer
Santee Cooper approves $1.3 billion tender, exchange bond refunding
This article on Santee Cooper’s board approving a $1.3 billion tender and exchange bond refunding mentions the firm for serving as disclosure counsel. The NP team representing the South Carolina-owned utility company includes partners Liz Columbo, Virginia Wong, and Barry Rothchild of New York, Mitch Rapaport of Washington, DC, and New York counsel Abigail Olsen and associate Sebastian Torres-Rodriguez, all of the Project Finance & Public Finance group. Washington, DC Corporate partner Lloyd Spencer and Los Angeles Project Finance & Public Finance partner Dan Deaton assisted with the analysis of securities laws related to the tender and exchange.Feb 9, 2022 - The Bond Buyer
Santee Cooper OKs bond deal oversubscribed more than five times
This article on Santee Cooper’s revenue and refunding bond deal, which drew $3.5 billion in orders from investors, mentions the firm for New York Project Finance & Public Finance partner Liz Columbo’s work representing the South Carolina-owned utility company as bond and disclosure counsel.Oct 28, 2020 - Law360
Evaluating SEC Plan For New Municipal Issuer Disclosures
Public finance partners Julie Seymour (Chicago), Liz Columbo (New York) and Dan Deaton (Los Angeles) published a contributed article on the SEC’s proposed amendment to Exchange Act Rule 15c2-12 and what it could mean for market participants.March 13, 2017 - New York Law Journal
Awards for Pro Bono Service
New York City Public Finance partner Liz Columbo is named among the attorneys recognized by the City Bar Justice Center with its sixth annual Jeremy G. Epstein Awards for Outstanding Pro Bono Service.Oct 23, 2014
Admitted to practice
New York
Education
Brooklyn Law School, J.D., 1994
Fordham University, B.A.
Professional activities
- New York State Bar Association
- National Association of Bond Lawyers
- Two River Theater, Board of Trustees member
Recognition
- Selected, through a peer-review survey, for inclusion in The Best Lawyers in America® 2025 in the field of Public Finance Law; listed in Best Lawyers since 2023
- Crain’s New York Business “Notable Women in Law,” 2023
- Recognized for exceptional standing in the legal community in Chambers USA: America’s Leading Lawyers for Business 2024 for Public Finance (New York); also recognized in 2023
- Recognized as a “Super Lawyer” in the New York Metro since 2018 for her work in Government Finance
Super Lawyers periodically reviews lawyer credentials and solicits, reviews and evaluates peer feedback in determining who receives recognition. No aspect of this advertisement has been approved by the Supreme Court of New Jersey or any other applicable state bar reviewing authority.
Insights And Happenings
View AllProfessionals in the Practice Area
View AllVirginia Wong
Partner / Practice Group Leader, Project Finance and Public Finance- New York
- Office:+1 212.940.3028
- vwong@nixonpeabody.com
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Julie K. Seymour
Partner / Strategic Impact Partner- Chicago
- Office:+1 312.977.4353
- jkseymour@nixonpeabody.com
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Scott R. Singer
Partner- New York
- Office:+1 212.940.3182Mobile:+1 917.886.5967
- ssinger@nixonpeabody.com
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