Swaps
In addition to experts focused on traditional debt financings, PFMAM also has a group of experienced professionals - several with Wall Street trading backgrounds - dedicated solely to the derivatives and structured financial products area.
Since 1997, we have advised municipal and tax-exempt issuers on 798 separate swap and derivative transactions totaling over $68 billion in notional principal amount. In 2007 alone, we advised on 153 swap transactions totaling $10.8 billion. PFMAM is not a swaps broker or dealer and does not act as principal or counter-party for any transactions. Rather, PFMAM acts solely as an independent advisor serving only one interest - that of our clients.
As such, PFMAM has experienced significant growth in the volume of our interest rate swap advisory business. Interest rate swaps have become indispensable tools for public debt manage
- Hedge interest rate risk
- Reduce annual debt service
- Conserve credit capacity
- Monetize value of bond call options in municipal debt
- Increase budgeting certainty
- Enhance asset-liability management
PFMAM has years of experience developing hedging policies and conducting interest rate swap transactions including structuring and procuring on both a competitive and a negotiated basis.
PFMAM is uniquely qualified to ensure that our clients receive fair pricing on transactions because of our advanced quantitative capabilities and independent market access.
Most importantly, we have an unblemished record of integrity, fair dealing, and compliance with the securities and arbitrage laws.
Click here to learn about SwapViewer™ a swap monitoring service for the municipal and tax-exempt market.