We provide services to corporations who wish to prepay outstanding bond issues that have prepayment requirements for Make Whole provisions.

We have been involved in transactions with complex requirements and with issues in excess of $2 billion. We have provided services to the corporate finance industry since 1978 and as a firm since 1986. Our clients include indenture trustees and issuers of corporate bonds.

Because we are involved in a large number of transactions each year, we see the newest types of escrow products, structuring techniques, and the impact of revised regulations soon after they are announced. We have assisted many clients by providing guidance in the application of new, non-proprietary techniques.

We view each engagement with multiple objectives:

  • to ensure the mathematical accuracy of the calculations.
  • to ensure that the proposed prepayment is being undertaken in a manner consistent with the Offering Documents for the issue to be refunded.
  • to inform the chief financial officer or banker of alternative structuring ideas that would improve the economic benefit to the Issuer of the proposed transaction.

We are committed to providing high-quality, quick turn-around service on each engagement. Our verifications are performed using customized spreadsheet software and a process that includes, both prior to pricing and on the day of pricing, initial scrutiny and analysis by one of our managers or staff consultants and a second intensive review by one of our principals.

Our combination of knowledge, responsiveness, technical competency, accuracy, and reasonable fees results in verification services that our clients consider to be the best in the industry.