Public Finance

The Public Finance Group at Roosevelt & Cross is an integral part the firm’s overall commitment to servicing the municipal market and is a critical factor in sourcing new securities issues for our distribution mechanism to the household sector, regional/smaller institutions and national institutions. These new issues include general obligation and revenue bonds for general infrastructure, education, health care, housing, resource recovery, utility, economic development and various other purposes.

The firm’s Public Finance Department is comprised of nine banking professionals with extensive experience in structuring, evaluating and executing a wide range of negotiated bond and note issues for governments throughout New York, New Jersey and New England. Roosevelt & Cross has demonstrated superior structuring and technical skills in public finance on a wide variety of negotiated issues throughout the Northeast and proven its ability to design cost effective financings. We have provided all of our negotiated financing clients with a level and quality of service which has won their respect and loyalty.

Roosevelt & Cross has substantial expertise in many types of municipal debt structures, including traditional fixed rate debt for general municipal purposes and utility financing, variable rate structures, asset securitizations, and synthetic short term and long term debt.

• We have acted as senior book-running manager on $769 million of School Revenue Bonds for the Dormitory Authority of the State of New York, a pooled financing program for local school districts in the State, which entailed developing a complete cash flow model for the transaction.

• Roosevelt & Cross is an active participant in the variable rate demand market and currently serves as remarketing agent on approximately $300 million variable rate securities.

• As financial advisor to Niagara Falls Bridge Commission, we worked with the issuer’s counsel and the underwriter on a refinancing of an outstanding bond issue, using short-term fixed rate serial bonds and term bonds structured as auction rate securities, synthetically fixed through an interest rate swap, providing the issuer with substantial savings in debt service.

Our investment banking services provide a complete and thorough analysis of structural issues, pricing considerations, comparative data analysis and recommendations for ongoing monitoring of transactions involving derivative products and interest rate swaps. We are confident that the level of sophistication of our investment banking staff substantially contributes to our effectiveness as a Financial Advisor for the Authority.