In busy year, Phoenix Advisors again tops field advising on
New Jersey Debt Transactions

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For the second year in a row, Phoenix Advisors, LLC ranked first among all financial advisors handling public sector debt transactions in New Jersey for 2012, according to data released by Thomson Reuters.

 

Phoenix Advisors led its competitors in all areas, from total value of transactions – $1.733 billion, compared to $1.205 billion for the next-highest firm – to the total number of transactions, 141, compared to only 55 for the next-highest competitor.

 

Together with the firm’s out-of-state work in Connecticut and Pennsylvania, Phoenix ranked 23rd in nation for 2012, according to Thomson Reuters.

 

“We continue to demonstrate our ability to serve all areas of the market, from State Authorities to school districts with a single building,” said David B. Thompson, founder of Phoenix Advisors. Thompson said he was proud that the firm ranked sixth nationwide in the “small issuer” category, for transactions of less than $10 million.

 

In New Jersey, Phoenix captured 55.3 percent in terms of the number of issues, and 29.3 percent of the market in terms of value, according to the data from Thomson Reuters.

 

The past year was an especially busy one for the municipal bond market, as public entities sought to take advantage of record-low interest rates to plan new projects or refinance existing debt. Phoenix’s total transactions nearly tripled the levels seen in 2011, when it also ranked first in New Jersey. 

 

“I am thrilled with these results, because they mean we have been able to help many towns and school districts issue debt wisely this year,” said Anthony P. Inverso, senior managing director of Phoenix Advisors. “We look forward to helping even more issuers during the unpredictable market that lies ahead.”

 

Inverso said Phoenix Advisors was instrumental in helping several communities secure emergency financing at low rates immediately after Superstorm Sandy. He encouraged other communities in need of financing to contact the firm.

 

Selecting a financial advisor is an important part of the process when a town or school district issues or refinances debt. The financial advisor works with the chief financial officer to determine the amount needed, the debt schedule, and the right time to go into the market. The financial advisor also works with the CFO to help the public entity make a good presentation to Wall Street rating agencies, which determine the credit rating for the school district or the town, and thus, the interest rate that will be paid.  “We help our clients understand the process so they are prepared,” said Sherry L. Tracey, senior managing director of Phoenix Advisors. “We know that any savings we can bring makes a difference for the towns and school districts we serve.”

 

Finally, Phoenix Advisors excels at marketing issues to prospective bidders and routinely ensures that multiple bidders drive down interest rates, bringing additional savings to the client.