Service Model

Specifically, our service model is built from the following activities:

Identify project needs and develop efficient funding approaches to achieve those needs;
 
Document preferred funding approaches by completing customized plans of finance;

Organize financing team partners, create timelines, and assign tasks;

Develop bond rating agency strategies and presentations, including preparing policy makers for verbal presentations;

Work with bond attorneys and goverment officals to coordinate the development and manage the quality control for the investor disclosure document, the "official statement";

Structure and analyze bond payment schedules and bond terms, such as the type of security, type of the bond, and call provisions;

Develop and review financial dervative solutions, where appropriate;

Review and report on events in the credit markets as they impact bond structure and interest rates;

Develop and recommend formal debt policies;

Coordinate underwriter selection or competitive bid bond sales;

Monitor and manage underwriter performance;

Provide timely reporting on financing plan progress and bond sale results;

Coordinate the selection of investment advisors for construction fund dollars;

Monitor ongoing opportunities for bond refinancings;

Serve as an ongoing consultants to administrations.
 

Independent Advisory Services Greatly Enhance Underwriting Services
 

    Independent municipal advisors are the rule in the United States as opposed to the exception.  The introduction of FA services to local governments in Ohio however lagged until several years ago.  Today, every major State of Ohio issuing agency and county uses independent financial advisors to direct their issues.  A large growing number of local governments are doing the same.

    The Government Finance Officers Association (GFOA) recommends that all issuers of bonds hire financial advisors unless they are very frequent borrowers with staff dedicated to debt management.  The reason for their recommendation is that underwriters represent investors at the same time they represent issuers - two parties with sometimes opposite goals.  Additionally, all active underwriters in Ohio have a variety of clients for whom they service directly as an "municipal advisor", to manage and oversee their clients' underwriters, so they too realize the benefits of the FA service to their clients.

    Bradley Payne represents the interests of the project owner - the government issuer.  As advisor, we are responsible for working strictly on your behalf to better ensure solid underwriting performance, proper bond structures, and the lowest possible interest rates.

    As municipal advisor, Bradley Payne also manages underwriting fees in an effort to keep them competitive and comparable with other underwriters, while also bringing pressure to bear on the underwriting team to achieve the lowest possible interest rates.  This process happens in a "negotiated" sale, in which the issuer selects an underwriter to work with directly, or a "competitive" sale where Bradley Payne organizes the sale and underwriters are asked to bid on the bonds on the day of sale.  As advisor, Bradley Payne manages bond transactions involving a variety of underwriters and investment bankers on a variety of transactions.  This broadens our experience and forms an excellent base from which to measure underwriter performance.

Municipal Bond Solutions

Traditional Bond Financing
Complex Project Financing
Complex Project Financing
SWAP Financing & Management
SWAP Financing & Management
SWAP Financing & Management

Consulting Solutions

Debt Policy Development
Bond Rating Management
Financing Team Selection Management
Regulatory Disclosure Management

Seminars & Education

Bond Advisors
Debt Policy
When and How is it Appropriate to Borrow