Capital Finance
Debt Advisory & Capital Finance
Debt is not just a transaction. It is a long-term claim on public resources, with obligations that begin at closing and continue for the life of the bonds.
The Challenge
Financing decisions create obligations that outlast the project.
When financing is the right tool, public agencies need more than process management. They need a financing strategy that fits the agency's budget, capital plan, policy goals, rate structure, reserves, and long-term capacity. And when the transaction closes, the work is not done. Tax-exempt debt creates ongoing SEC disclosure obligations, CDIAC reporting requirements, IRS post-issuance compliance, and annual covenant monitoring that persist for decades.
Key Capabilities
- Debt affordability analysis
- Bond issuance and refundings
- Certificates of participation
- Lease and leaseback financings
- Private placements and direct purchases
- Rating strategy and investor positioning
- Financing team coordination
- Continuing disclosure management
- CDIAC reporting
- Post-issuance tax compliance coordination
- Arbitrage rebate monitoring
- Annual debt covenant reporting
How We Work
Our approach
Financing strategy begins before the financing. We help agencies assess affordability, structure the transaction, build the financing team, and manage the process through closing. We are independent, retained by you and not compensated by the deal, so our recommendations reflect the agency's fiscal model, not a transaction fee. That independence matters most when the structure, timing, or sizing decision is genuinely difficult. After closing, we establish the compliance calendar, continuing disclosure system, and annual reporting processes that keep the agency current on its obligations for the life of the debt.
Transaction structure and financing plan aligned to the agency's capital plan, rate structure, and long-term debt capacity.
Independent rating strategy, investor positioning, and financing team coordination from start to closing.
Post-issuance compliance system including continuing disclosure filings, CDIAC reporting, IRS documentation, and annual covenant monitoring, set up from day one and maintained for the life of the bonds.
Common Engagements
What a typical engagement looks like
New money financing
Refunding or restructuring analysis
Private placement evaluation
Post-issuance compliance setup and annual management
Ready to discuss your agency's fiscal capacity?
Schedule a confidential conversation about your capital needs, pension pressures, revenue strategy, upcoming financing, or long-term financial plan.