Julie K. Seymour

What do you focus on?

In my finance practice, I regularly work with financial institutions in connection with the direct purchase of tax-exempt bonds and credit and/or liquidity facilities issued to support tax-exempt and taxable municipal securities. In addition, I represent and counsel conduit borrowers in structuring and negotiating their taxable and tax-exempt financing transactions, and negotiate and draft documents in a manner that maximizes flexibility and protection for those borrowers.

I also regularly advise clients on ongoing compliance matters, including secondary market disclosure, Internal Revenue Service (IRS) audits, change in use of bond-financed facilities, the impact of covenants on affiliation activity, and reporting requirements for the IRS Form 990, Schedule K.

What do you see on the horizon?

I anticipate additional regulatory scrutiny from the Securities and Exchange Commission regarding continuing disclosure, as well as increased demand for timely and detailed disclosure regarding privately placed bonds. In addition, as the country’s health care delivery system evolves, I anticipate the continued consolidation of health care providers. These consolidations will likely require restructuring of the outstanding debt of the consolidating entities, which will significantly impact our borrower and lender clients.

Representative Experience

• Representing the largest Catholic health care system in Illinois in connection with the restructuring of over $1 billion of tax-exempt bonds to refinance existing debt and to finance new capital projects
• Representing an Illinois health care system in connection with the remediation of certain of its tax-exempt bonds following the sale of bond-financed property
• Representing two separate hospital providers located in Indiana and Wisconsin in connection with tax-exempt bond issues to finance replacement hospital facilities
• Representing various domestic, national and regional banks in connection with the direct purchase of tax-exempt bonds issued on behalf of nonprofit entities located across the country
• Negotiating with tax-exempt bondholders to obtain a waiver of various financial covenant defaults by a health system

Presentations

Julie speaks regularly on tax-exempt finance and healthcare lending issues. She previously served as a member of the National Association of Bond Lawyers’ Steering Committee and chair of the “Current Issues in Healthcare Finance (Non-Tax Matters)” for its annual Bond Attorneys’ Workshop. She is also a frequent guest lecturer for Loyola University Chicago School of Law’s health law LLM program.