Capital markets teams help public entities plan and execute large financings tied to infrastructure and growth. This case study highlights how strong banking relationships create access to capital markets opportunities and support long-term client partnerships across the TRB platform.
The Situation
A public entity preparing a large, multi-phase infrastructure bond program needed qualified underwriters to support its upcoming financing. While the entity maintained longstanding relationships with several firms, it had not previously worked with TRB Capital Markets in an underwriting role.
At the same time, Texas Regional Bank continued expanding its presence in the region and strengthening relationships across local public institutions. That engagement gave TRB teams earlier access to the client and a clearer understanding of its financing needs ahead of formal underwriting selection.
The Approach
Through established relationships, the local TRB team facilitated early engagement between the client and TRB Capital Markets before the underwriting selection process began.
That engagement focused on:
- Providing preliminary analysis during the client’s public discussions related to its bond program
- Demonstrating expanded underwriting depth and regional distribution capacity
- Introducing TRB Capital Markets as a competitive underwriting option based on execution capability rather than incumbency
This early work allowed the client to evaluate TRB Capital Markets on merit before making formal selection decisions.
The Outcome
Following voter approval of the $480 million bond program, the client selected its underwriting team for the first major financing. TRB Capital Markets earned a role as an underwriter, marking its first underwriting engagement with the entity.
After delivering strong pricing performance on the initial transaction, the client again selected TRB Capital Markets to serve as an underwriter on a subsequent $145 million financing. The repeat selection reinforced confidence in execution quality, pricing discipline, and consistency across transactions.
By engaging early, executing effectively, and delivering results, the team established itself as a repeat underwriter on a complex, multi-phase public financing and retained subsequent business based on performance.
Client Fit
This case study highlights opportunities for collaboration across TRB teams serving public and governmental entities, including:
- Cities, counties, and municipalities
- School districts and community colleges
- Utility, road, and water districts
- Transit or mobility authorities
- Hospital districts
- Economic development entities
- Special-purpose districts supporting local infrastructure
Why This Matters for Team TRB
This case illustrates how everyday banking relationships can lead to broader opportunities across the TRB platform. Early conversations, shared insight, and coordination between teams create pathways for clients to access the right expertise—and for TRB to support complex financing needs with consistency and discipline.
