Debt Management

Debt. Most governments have it, but the healthiest governments are those that manage it well. The problem? It’s often complicated and difficult to manage well. Issuing debt requires clear foresight, shrewd analysis, and expert advice and at every turn. PFM’s experienced team provides our clients with sure footing during this complex process, where a single misstep can be costly. PFM’s guides our clients by:

Analyzing 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.

Developing the 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 host of 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 fall flat in the marketplace. Hard work shouldn’t go to waste – that’s why PFM follows through by:

• guiding the selection of working group members that 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 that builds interest from investors.