Birmingham, Alabama (PRWEB) July 12, 2012
Investment banking firm Gardnyr Michael Capital has recently announced the completion of several noteworthy deals, bringing financial solutions and investment assistance to multiple local municipalities. The firm—which works primarily with local government agencies as its clients—has completed each of these important deals in the last month.
Gardnyr Michael Capital helped the City of Camden, the City of Citronelle, and the Dallas County Board of Education receive their first credit ratings from Standard & Poor’s. With the firm’s help, all three of these issuers received favorable “A” ratings, with stable outlooks from S&P.
The success of these deals is good news for the firm, but it’s ultimately a boon to these municipal government bodies, as well. “Receiving a strong credit rating in this market is a great accomplishment,” says David Langham, the Gardnyr Michael Capital Investment Banker who assisted these three issuers. “We were very pleased with the report we received on each issuer. Each of these clients was such a pleasure to work with, and seeing them rewarded with a great credit rating was an added bonus to the process. Going forward, they will be looked at with high esteem in the credit markets, which will make borrowing or refinancing debt less expensive.”
Indeed, these municipalities have saved money already. Langham explains, “The City of Camden was able to borrow at a rate that was 2% cheaper than they were originally quoted before receiving their credit rating. This ended up saving them about $20,000 per year. The City of Citronelle and the Dallas County Board of Education were both able to take advantage of historically low interest rates and refinance some existing debt.”
Gardnyr Michael Capital was able to help Citronelle save $200,000 overall. Meanwhile, they assisted the Dallas County Board of Education in saving over a quarter of a million dollars. “It is a great time to be a municipal issuer because of the low rates, and we are grateful for the opportunity to assist clients such as Camden, Citronelle, and Dallas County Board of Education,” says Langham.
Gardnyr Michael Capital is an investment banking company that specializes in the issuance of municipal bonds. Gardnyr Michael works largely with municipal governments as its clients, and assists them on different matters of public finance, including underwriting, private placement, and financial advisory work. Furthermore, the firm works alongside specialized issuers such as 501c3 and special districts.
Founded in 1991, Gardnyr Michael Capital is based in Alabama, but maintains activity in areas around the country, including Louisiana, Florida, Texas, New York, and New Jersey.
Gardnyr Michael Capital is an investment banking firm that focuses on public finance, largely taking on municipal governments as its clients. Founded in 1991, the firm has grown into a team of approximately 25 financial professionals, with offices in Alabama, Louisiana, Texas, New York, New Jersey and Florida. Gardnyr Michael Capital specializes in underwriting, private placement and financial advisory work on behalf of states, cities, counties, and their authorities, as well as for more specialized issuers such as 501c3 and special districts.