Experience
Public FinanceThe Houston County Health Care Authority (“Authority”) retained Porter, White & Company as swap adviser in connection with a synthetic fixing of the interest rate on a variable rate tax exempt note. The Authority had received a swap proposal and wanted assistance in evaluating the fairness and appropriateness of the terms of the swap.
Porter, White & Company analyzed and evaluated the proposed transaction, brought transparency to, and performed a market check on, the pricing, and assisted the Authority in negotiating the underlying ISDA documentation. The analysis identified, quantified and explained the risks of the transaction.
At the time of execution, Porter, White & Company provided full pricing transparency and verified the negotiated spread. Despite current volatile credit conditions, the Authority was able to lock in a low all-in fixed financing rate through 2023.
