Areas of Expertise
Our Transportation team has been on the cutting edge of structuring and marketing a wide variety of transportation revenue bonds, including developing innovative financing structures, sophisticated cash flow financial models, and working with the rating agencies, investors, financial advisors, banks, legal counsels, bond insurers, and other stakeholders to devise advantageous financing solutions for the benefit of the clients we serve.
The RBC Capital Market’s Transportation team has experience with transportation bonds backed by a wide variety of revenue sources.
- General Revenue Bonds (GARBs)
- Customer Facility Charge (CFC)
- Passenger Facility Charge (PFC)
- Fuel Revenues
- Motor Vehicle Fuel Tax
- Other Excise Taxes and Fees
- State Appropriations
- GARVEEs
- General Obligation
- Toll Revenues
- Availability Payments
- Private Activity Bonds
- Specialized Loans
- Sales Tax
- Grant Anticipation Notes
- Farebox
- Section 5307/5309
- Seaport Revenues
- Tax Subsidies
Notable Transactions

Managing Director & Sector Co-Head
New York
+1.212.618.2215
Andrew.Mendelson@rbccm.com
Andrew Mendelson is a Director in the Municipal Finance Group at RBC Capital Markets and is Co-Head of Municipal Transportation Finance. He specializes in project finance with expertise and experience including:
- P3 transportation financings for both greenfield and brownfield projects representing both the private and public sectors as financial advisor and financer (tax-exempt, private-activity, and taxable bonds; bank facilities);
- Tax-exempt and taxable municipal banking for transportation and large governmental issuers; specializing in user fee (toll road and mass transit), transportation revenue (sales tax, gas tax) and P3 (demand risk and availability payment) financings; and
- Particular expertise with Federal programs such as TIFIA.
Public-Private Partnership Experience Selection of Senior Managed Underwriting, Financing, and Advisory Mandates
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Municipal Finance Selection of Senior Managed Underwriting, Financing, and Advisory Mandates
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Andrew focuses on complex debt strategies and financial structuring / engineering for transportation infrastructure projects nationwide. He has led the development and structuring of multiple new indentures for large bonding programs and worked through rating agency and investor education processes for the related new credits.
Andrew holds an A.B. in Economics (Suma Cum Laude/Phi Beta Kappa) and a B.S. in Systems Science and Engineering (Magna Cum Laude/Tau Beta Pi), both from Washington University in St. Louis, as well as a MBA with specializations in Finance and Management (Stern Scholar/Beta Gamma Sigma) from New York University Stern School of Business.