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FORM ADV
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Sample Client List - Bond Pricing Advisory

  • Springfield College
    Massachusetts
  • Julliard School
    New York
  • Southern California Presbyterian Homes
    California
  • Reynolds School District #7
    Oregon
  • Boston Medical Center
    Massachusetts
  • City of Riverside
    California
  • Santa Rosa Academy
    California
  • University of Northern Colorado
    Colorado
  • Soos Creek Water & Sewer District
    Washington
  • Children’s Hospital of Orange County
    California
  • Mass Development - Devens Electric
    Massachusetts
  • City of Burlingame
    California
  • City of Oceanside
    California


FAQ

Frequently asked Bond Pricing questions

Bond Pricing Advisory

The municipal bond market has become increasingly complex and volatile. Many new forces are at work in the market that were not prevalent just a few years ago. These market influences have a direct impact on a borrower’s interest rates. With these new dynamics and increased complexities of pricing new issue bonds, there is a need and value for an experienced and trusted pricing advisor.

BLX assists borrowers to navigate this volatile environment, to gain a better understanding of the various market forces, and an appreciation for the priorities of the underwriter. In this way, we act as an advisor to the borrower and as a liaison with the underwriter during the pricing of a transaction.

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BLX has the market expertise and knowledge to support clients with comprehensive bond pricing services, including but not limited to the following:

  • Review and assess the appropriateness of the financing structures under consideration in the context of the borrower’s overall capital plan
  • Discuss and review with the underwriter to ensure that the borrower receives maximum exposure to all potential buyers of its bonds. Review the daily municipal market supply, economic releases, market stability, and investor demand
  • Offer counsel, support and representation for the borrower at all pricing meetings and on all pricing conference calls
  • Evaluate amortization, couponing, call features, and any other bond structure changes presented by underwriter and potential investors
  • Study comparable issues recently priced in the market. Specifically compare to regional, national, and similar sector issues in marketplace
  • Evaluate and provide an independent opinion of interest rate(s) proposed by the underwriter as to appropriateness in the current market prior to official pricing release to investors
  • Review and assess the appropriateness of the proposed underwriter’s discount including management fee, underwriting fee, takedown, and underwriter’s expenses
  • Judge and advise the borrower as to the reasonableness of the underwriter’s bid
  • Document the diligence and success of pricing efforts and provide a detailed final pricing report and evaluation

Traditionally BLX’s engagement as a Bond Pricing Advisor begins 3 to 4 weeks prior to the actual bond pricing.

THE BLX ADVANTAGE[more]

BLX will advocate for the borrower and bring transparency to the pricing process. We will guide the borrower in balancing financing priorities with the current market and investor demand. We will share market knowledge and comparable transactions that will empower the borrower in pricing decisions.

And BLX will team up with the underwriter to ensure the financing terms serve the best interests of the borrower.

For more information, or questions please contact:

Mark Perry
781 239 8275 ext. 1
meperry@blxgroup.com

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