Our public clients are among our most valued customers, and Sutter specializes in providing state and local governments with investment banking and financial advisory expertise. Our public finance investment bankers have worked throughout California with the State governments, and state and local agencies, cities, counties, school and community college districts, irrigation districts, sewer and water districts, redevelopment agencies, transit districts, various joint actionÂ agencies and non-profit corporations.
Sutter has the capability and resources to become fully involved in all phases of a municipality's finances, from budgeting to debt issuance, providing consistent and reliable service. As part of our scope of services, we:
- Carefully evaluate our clients' financing needs in the context of their outstanding debt, tax and revenue sources, and credit rating.
- Analyze the costs and benefits of financing new public projects through alternative funding sources, including issuing debt, entering into leases, or obtaining state and/or federal grants.
- Provide financing recommendations and present these recommendations to the clients' governing bodies, such as the boards of supervisors or city councils.
- Coordinate with the municipal issuers' staff, bond counsel, engineers, credit enhancement providers and the rating agencies to structure and bring to market new public debt offerings.
- Underwrite and sell new municipal securities issues through a defined marketing plan and sales strategy.
- Support the issues of our municipal clients by continuing to make an active secondary market in their securities.
Sutter Securities' public finance department is an underwriter of public finance issues, which are bonds issued by state and local agencies, primarily in California, both non-taxable and taxable issues. The firm underwrites municipal securities as senior manager or co-manager. The firm works with its clients on a best-efforts basis to structure and price security issues, ensuring satisfaction of both the issuer and the buyers of the issuer's bonds, prior to signing definitive commitments.
The firms' public finance department often is solicited by its clients to serve them in an advisory capacity; to assist in setting the dollar value of issues, based on need and borrowing capacity; to structure transactions, primarily for completely bid issues; to assist in developing debt management programs; and to advise on all professional matters related to an issue of securities, including the reinvestment of available funds.