Bruce Bonjour
Bruce is a finance lawyer with an emphasis on matters involving the hospitality sector and major public finance projects.
Bruce Bonjour has represented owners of business- and luxury-class hotels in financings in excess of $20 billion. His experience includes transactions involving the acquisition, financing, refinancing, or restructuring of ownership of iconic hotels such as Hotel del Coronado, Scottsdale Fairmont Princess, Ritz Carlton Hotels in Laguna Beach and Half Moon Bay California, Four Seasons hotels in Washington, D.C., Thompson Hotel Nashville, New Orleans Pontchartrain Hotel, Providence Biltmore Hotel, and all 35 Graduate hotels.
Bruce also has served as bond counsel and advised clients in many notable tax-exempt and taxable municipal finance transactions. For example, he served as bond counsel for 10 U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund-guaranteed series of bonds issued under the CDFI Bond Guarantee Program authorized by the Small Business Jobs Act totaling more than $700 million. Bruce also was the principal lawyer for the multibillion-dollar expansion/renovation of McCormick Place and Navy Pier in Chicago, including the tax-exempt financing of the Hyatt Hotel at McCormick Place; the complete renovation of Soldier Field; and two refinancings of Guaranteed Rate Field (the ballpark f/k/a Comiskey Park). Bruce also was the principal lawyer in the authorizing legislation and the issuance of tobacco settlement bonds in South Dakota which established a constitutional trust fund dedicated solely to enhance K-12 public education.
Bruce served as co-chair of the firm’s first Financial Transactions & Restructuring practice from 2005 to 2010.
Areas of focus
Education & Credentials
Education
- The George Washington University Law School, J.D., with honors, 1976
- State University of New York (SUNY), M.A., 1972
- Albion College, B.A., cum laude, 1971
Bar and Court Admissions
-
Illinois
Related Employment
- Altheimer & Gray, Chicago, IL, Partner, Finance Practice Group Chair
- County of San Diego, California, Associate Legislative Representative
Professional Recognition
Listed “Public Finance Law Lawyer of the Year” by The Best Lawyers in America, 2021-2022
Listed in the Law Bulletin Publishing Company's Leading Lawyers Network as Illinois Leading Lawyer, 2019-2020
Listed in Best Lawyers in America: Public Finance Law, 2013-2025
*The Supreme Court of Illinois does not recognize certifications of specialties in the practice of law and no certificate, award or recognition is a requirement to practice law in Illinois.
Impact
Professional Leadership
- National Association Bond Attorneys, 1979-present
- American College of Bond Counsel, Fellow, 2014-present
News
Professional Experience
Hotels & Leisure
Hotel Debt Transactions
- Represented owners of luxury and business class hotels and resorts in connection with more than $20 billion of structured debt. Hotels and resorts include Barton Creek Spa & Resort, Grove Park Inn, Hotel del Coronado, Fairmont (Chicago, IL; Scottsdale, AZ), Four Seasons (Mexico City, Punta Mita, Palo Alto, Jackson Hole, Washington, D.C., Palo Alto, and Jackson Hole), Hilton (Hawaiian Village and San Francisco Union Square Hotel), Homestead Resort, Hyatt La Jolla, InterContinental (Chicago, IL; Miami, FL), JW Marriott Essex House, Loews Santa Monica, Marriott Lincolnshire, Parc 55 San Francisco, Ritz Carlton (Half Moon Bay and Laguna Niguel), Westin St. Francis, Hotel Viking, Thompson Hotel Nashville, New Orleans Pontchartrain Hotel, Providence Biltmore Hotel, and all 35 Graduate hotels.
Other Hospitality Financings
- Represented private equity firm in $1.8 billion Commercial Mortgage-Backed Securities (CMBS)/mezz financing in connection with acquisition of ClubCorp Inc., owner of approximately 100 golf courses, 60 business clubs as well as the Barton Creek and Homestead Resorts. The mortgage financing was secured by mortgages on 61 of the company's golf courses as well as its two resorts and the mezzanine financing was secured by a pledge of equity in business clubs and golf courses.
- Represented ClubCorp as lead finance counsel in multiple bank lines of credit (Term Loan/Revolver) secured by golf courses and equity in business clubs located throughout the country.
- Served as bond counsel for more than $1 billion in bonds to finance improvements to McCormick Place Convention Center (South Hall) & Navy Pier.
- Served as bond counsel for construction financing and initial long-term financing ($127.4 million) of McCormick Place Hyatt Hotel.
- Served as bond counsel for total renovation of Soldier Field ($400 million).
- Represented underwriters in two series of bond refinancings for Comiskey Park.
Business
- Represented publicly traded REIT in the origination and securitization of tax increment capital appreciation notes in the original principal amount of $135 million to finance a Rail/Truck Intermodal Facility as wells as several subsequent add-on series of tax-exempt bonds in excess of $600 million.
- Served as bond counsel for U.S. Treasury guaranteed bonds authorized by the Small Business Jobs Act of 2010 (12 USC 1413a), the proceeds of the bonds were to be used to make commercial real estate loans to seven large national certified development financial institutions. The bonds aggregated nearly $800 million—more than half of the volume guaranteed by the U.S. Treasury throughout the history of this program.
- General counsel to recipient of over $500 million of New Markets Tax Credits, with primary responsibility for developing legal structure for and negotiating equity and debt transactions.
- Primary counsel for first major new markets tax credit leveraged loan fund in the nation.
- Represented Community Reinvestment Fund, Inc. in more than 20 series of asset-backed notes and bonds.
- Counsel to Issuer of Real Estate Mortgage Investment Conduits (REMIC)/Affordable Housing Notes and Asset-Backed Affordable Housing Notes aggregating $200 million.
Commercial Real Estate Finance
- Pier 39—San Francisco. Represented borrower in $148 million term loan secured by ground lease with San Francisco Port Authority.
- AIPA Properties—Honolulu. Represented borrower in $165 million term loan secured by ground lease.
Public Finance
- Underwriter’s Counsel for approximately $900 million of Hospital Revenue Bonds in multiple separate offerings for a large midwestern healthcare organization.
- Bond Counsel to Educational Enhancement Funding Corporation for two separate series of Tobacco Settlement Revenue Bonds approximating $170 million.
- Bond Counsel to South Dakota Building Authority for approximately $250 million of various Revenue Bonds to finance various State and University Projects, including a football stadium and recreational facilities.
- Bond Counsel to a State permanent revolving fund for clean water and drinking water projects for 12 separate revenue bond issues aggregating more than $750 million.