Bond Pricing

PFM has developed an in-house bond pricing group  that, along with our core finance team, supports the pricing of bonds.

PFM uses a range of services and tools to ensure our clients receive fair pricing for their bonds and credit enhancement:

• Our consistent presence in the capital markets
  
  
• Our access to Bloomberg and live MSRB data
  
  
• Our understanding of different types of securities
  
  
• Our understanding of credit in general and our clients’ credit in particular,
  
  
• Our quantitatively-supported understanding of coupon structures, call option valuation and spread relationships.

PFM takes a rigorous and quantitative approach to pricing an issuer’s bonds. We perform option-adjusted spread (OAS) analyses on every maturity for each historical issue and each comparable transaction. PFM possesses the extensive expertise and experience,  in both competitive and negotiated sales, that can only be matched  by the largest underwriting firms.