Cecilia Dyba has dedicated her career to raising financing to fund vital water, wastewater and electric utility infrastructure needs for communities across northern and southern California. As a diligent and responsive team player, special districts, joint powers agencies and city enterprise departments count on her experience to successfully secure needed funds through a variety of  financing instruments and derivative products including fixed rate revenue bonds, variable rate debt, auction rate securities, inverse floaters, mandatory put bonds, indexed notes, commercial paper and interest rate swaps.

Cecilia has helped raise more than $1 billion in financing for renewable energy projects, including as part of the bond counsel team involved in a financing for the prepayment of wind energy which was selected in 2010 by The Bond Buyer as the “Deal of the Year.”  She also has more than 25 years of experience serving as bond counsel to a large municipal water and wastewater utility in northern California in connection with over $5 billion of new money and refunding transactions. While serving as bond, disclosure or underwriters’ counsel, she has advised on numerous joint power agency financings throughout California, including hydroelectric, geothermal, combustion turbine, wind energy, coal and transmission projects. A significant portion of Cecilia’s practice is focused on disclosure matters.

Some highlights of Cecilia’s career include:

Following the imposition of restrictions on the issuance of tax-exempt advance refunding bonds by the Tax Cuts and Jobs Act of 2017, Cecilia and Carol Lew, the chair of Stradling’s municipal tax law practice, assisted a Northern California municipal electric utility on a multi-series private placement transaction utilizing “Cinderella” bonds designed to convert from taxable to tax-exempt and maximize available debt service savings.

In the aftermath of the financial crisis and increasing liquidity-support costs for variable rate debt, Cecilia and her team assisted a large municipal water and wastewater utility in analyzing, developing and implementing alternative self-liquidity and market access products, as well as on a number of transactions to fix out hedged variable rate debt and terminate interest rate swaps on an economically feasible basis.

Cecilia has served as bond counsel or underwriters’ counsel on a number of green bond transactions, including advising a municipal utility district in connection with the issuance of over $400 million of green bonds and the implementation of its “green bond guidance” mechanism for establishing and monitoring eligible green bond projects and expenditures.

Credentials

Education
  • University of Southern California Gould School of Law, J.D., 1988
  • University of Southern California Marshall School of Business, M.B.A., 1988
  • University of the Pacific, B.S., Finance, 1985
  • American Bar Association

  • State Bar of California

  • Women in Public Finance

  • National Association of Bond Lawyers
  • California