FISCAL ADVISORY SERVICES FOR BOND ISSUANCE AND LOAN PACKAGING |
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Clements Partners assists its clients with all aspects of the debt issuance or borrowing process. For example, we advise clients on the general feasibility of financing a project, the alternative available sources of debt, the size of the financing required to accomplish the client's funding requirements and the general state of the bank and bond markets. Partners primarily advises in the negotiated sale of debt. In negotiated transactions, Partners advises its clients on the selection of funding or intermediary services, terms of the sale offered by the banker and assistance with the negotiation of pricing and borrowing covenants that are compatible with the client's needs. We assist clients with defining their objectives for the financing, the alternative sources of funding, the selection of service providers and the establishment of a timetable for the financing process. Key to a successful financing is the proper structuring and sizing. Sizing entails both technical analysis and knowledge of the component elements in both the bond and bank financing. This phase entails a thorough evaluation of the political, cultural, regulatory and financial constraints that the client faces. Our structuring experience ranges from bank loans or private placements to the most sophisticated bond issues sold on a negotiated basis to investors or investment banks. Once a client's objectives are defined and the best structure is selected, we assist with the marketing, negotiation, sale and closing of the financing. Providing these services requires a thorough understanding of the criteria and requirements of the credit rating agencies, credit enhancement providers, including the Bureau of Indian Affairs loan guarantees, and the bond investment and underwriting communities. Finally, Partners assists its clients with the closing process. This entails the calculation of the various monies to be paid and received at closing. A detailed summary of the transaction is presented to the client at closing. Partners is always available to assist the client with any aspect of the financing after the closing. |
