Debt Management

  • The healthiest governments are those that manage debt well, but in today's economic environment, this is a task that is both complicated and difficult. Issuing debt requires clear foresight, shrewd analysis, and expert advice at every turn. PFM’s experienced team is able to guide clients through this complex process, where a single misjudgment can be costly.  With PFM's commitment to independence and integrity in all we do, our clients can feel confident that the advice they receive from us is based solely on their needs. We take a three-pronged approach:

    Analysis of existing debt

    PFM’s experience can prove invaluable during this critical planning stage. We identify the strengths and weaknesses of a client’s overall debt structure so that our recommendations fit with current debt policies and meet future capital needs.

    Development of an optimal debt issue

    PFM tailors each debt issue to a client’s situation, working to minimize interest cost and maximize flexibility. We develop financing terms that ensure credit quality and attract investors, whether we’re working with revenue bonds, general obligation bonds, notes, certificates of participation or any of the many other structures used in the market. And PFM provides input on all necessary financing documents, assuring that all terms are reviewed from the issuer's perspective.

    Getting to market

    Even the best-structured debt can experience difficulties in the marketplace. That's why PFM follows through by:

    • Guiding the selection of working group members who will most effectively bring an issue to market
    • Developing rating agency and bond insurer presentations to obtain the highest possible credit rating for a debt issue
    • Creating a marketing plan to build investor interest

    In these uncertain economic times, it's good to have a reliable, knowledgeable, and unbiased partner on your team. That partner is PFM.

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