Randolph A. DelFranco is a partner in Holland & Knight's New York office. Mr. DelFranco practices in the areas of corporate, public and tribal finance, securities and private equity.
Mr. DelFranco has extensive experience in high-yield (Rule 144A) privately-placed debt offerings, debt restructuring, IPO and secondary equity offerings, tender offers and other Securities Act and Exchange Act matters. He has particular industry experience in capital markets transactions for maritime shipping, aviation and casino gaming clients. Mr. DelFranco was recognized with the "Public Debt Deal of the Year" award for 2013 by Marine Money International for his work on a $300 million secured public debt offering as issuer's counsel. In 2012, Mr. DelFranco was awarded the "Native American Deal of the Year Award" by the Native American Finance Officers Association for assisting the Dry Creek Rancheria Band of Pomo Indians and its River Rock Casino to restructure its $227 million of debt.
Mr. DelFranco has significant experience representing Indian tribes and investment banks in securities offerings to finance the development of entertainment and casino facilities and in tax-exempt debt, including Tribal Economic Development Bonds. He has worked on financings for tribes in New York, and Northern and Southern California, Alabama, Arizona, Connecticut, Minnesota and New Mexico, totaling approximately $3 billion. Mr. DelFranco assisted in obtaining one of the few positive private letter rulings from the IRS interpreting the essential governmental purpose test to allow a client to borrow $40 million on a tax-exempt basis for tribal infrastructure. He has also lectured on numerous topics relating to Native American finance.
Mr. DelFranco has significant high-end public finance and public-private partnership (P3) experience, having represented well-known issuers of tax-exempt bonds such as the Washington Public Power Supply System, the New York City Municipal Water Finance Authority, the New York State Housing Finance Agency, the New York State Thruway Authority and the City of Chicago. He also represented Orange County, California as special bond counsel during and after its bankruptcy. Mr. DelFranco has represented many of the major investment banks in New York, such as Bank of America/Merrill Lynch, Citigroup, Deutsche Bank, Goldman Sachs, Jefferies, UBS Paine Webber, and Barclays. As bond counsel and underwriters' counsel, he has worked on long-term bond financings totaling more than $35,000,000,000.
Mr. DelFranco has been finance counsel with respect to numerous P3 transactions, such as the $730 million financing for the construction of the U.S. Patent & Trademark headquarters in Alexandria, Va.; the $450 million financing for new military housing at Fort Benning in Georgia; and the sale for $850 million of the New York Power Authority's nuclear power plants to a private owner.
Mr. DelFranco has lectured on a variety of finance and securities law topics such as the securities law aspects of the use of the Internet, Regulation FD and corporate governance matters, including the Sarbanes-Oxley Act.