Browsing articles in "Muni Market"
Veterans Firm Mischler Applies Military Focus In Munis-Bond Buyer
November 2016      Company News, Muni Market, News and Information   

Bond Buyer Nov 10 2016 coverage of Mischler Financial Group re-published in parts with permission

bond_buyer_mischler_veterans-day-muni-debt-brokerdealer

chip-barnett-mischler-bondbuyer

Chip Barnett, BondBuyer

Duty. Honor. Country.

Gen. Douglas MacArthur’s words aren’t just a Veterans Day slogan for Mischler Financial Group.

MFG is America’s oldest institutional brokerage and investment bank certified as a Service-Disabled Veterans Business Enterprise (SDVOBE). The minority broker-dealer was founded in 1994 and certified by the State of California in 1995. It is also one of the first FINRA members certified by the US Department of Veterans Affairs, the State of New York and the Commonwealth of Massachusetts. MFG is 100% employee owned and operated and takes a value-added approach to its public sector business.

“We are unequaled in our command of the financial market terrains in which we operate, and unmatched in our sense of duty, discipline, integrity, and honor… in every undertaking. We leave no client behind,” according to the firm’s mission statement.

bond-buyer-mischler-tilghman-chamberlain

Mgn. Dir. Rick Tilghman (l), CEO Dean Chamberlain (r)

MFG’s public finance department includes new issue underwriting and full service secondary market trading of both general obligation and revenue bonds. The firm trades over $14 billion a month in fixed income alone. And it has extensive experience in the public finance underwriting field; the company underwrote its first municipal bond issue in 1999 for the Los Angeles State Building Authority. Today approximately 15% of its underwriting activity is municipal bonds. The firm is also a two-time counterparty to the New York Federal Reserve Bank.

Some of MFG’s recent deals include serving as: co-manager on DASNY’s $1.11 billion of state personal income tax revenue bond sale in October; co-manager on the Regents of the University of California’s $1.05 billion of Medical Center pooled revenue bond deal in August; co-manager on the Los Angeles Department of Water and Power’s $628.62 million sale of water and revenue bonds in April; and as a selling group member on New York City’s $800.06 million general obligation bond deal in August and on NYC’s $800.45 million GO deal in May.

Walter Mischler, MFG’s founder and chairman, and Dean Chamberlain, its chief executive officer, are both graduates of the U.S. Military Academy.

Mischler, West Point Class of 1969, served with distinction in the Vietnam theatre in the infantry during 1971-1972 before he became disabled. He founded the firm in 1994 and today continues his work with institutional investment managers, major corporations, and government agencies in the federal, state and municipal sectors.

Chamberlain, West Point Class of 1985, had his six-year tour of duty, where he held various leadership positions with the 4th Infantry Division, cut short after suffering a disabling injury during a parachute jump. He began his financial services career in 1992 at Donaldson, Lufkin & Jenrette, trading mortgage- and asset-backed securities. Before joining Mischler Financial in 2011, Chamberlain was a member of the board of directors for Nomura Securities International and served as its head of fixed income for the Americas and head of distribution in both North and South America. Previously, he was a senior executive for Bank of America Securities, where he was head of structured products distribution for the Midwest region. Chamberlain said what differentiates MFG from other firms is that “our capital is our own capital. We don’t borrow it from somebody else.” He said the company is reinvesting into the business with its own money, not with somebody else’s.

With headquarters in Stamford, Conn., and Newport Beach, Calif., the firm has offices in eight cities across the U.S. and is staffed by over 55 veterans of the securities industry.

MFG administers corporate share repurchase programs for leading companies, cash management for government entities and corporations, and asset management programs for liquid and alternative investment strategies.

“This firm has been around for over 20 years,” Chamberlain said, “but for 17 of those years did mostly secondary sales and trading in a robust client base covering cities, counties and states in the middle market.”

Over the last six years, he said, the firm has adopted a new business model that says “slow and steady wins the race, build our capital, hire veterans, hire qualified people and add value, add value, add value. And that’s done very well for all of us.”

Richard Tilghman, MFG’s Managing Director of Public Finance, exemplifies the best of that new strategy. He went to Yale University and spent 19 months in Vietnam as a Marine infantry officer.

Tilghman has been in municipal bonds since 1971. He began his career at First Boston Corp. in public finance and worked on its trading floor. He has been in munis ever since, having been employed at such firms as Greenwich Partners, First Albany, Public Resources Advisory Group, Lehman, and Ramirez & Co. He joined Mischler Financial in 2014.

He said the competitive arena was a new area that the firm has become involved in adding that the firm has already participated at the co-manager level on several bond sales.

robert-karr-mischler-financial-capital-marketsRobert Karr joined MFG in 2011, to head the firm’s capital markets group. He previously worked at Bank of America Securities and at Prudential Securities, where he ran structured finance.

Karr said he believes in the idea of a firm that does “the right thing for the customer, where you may not maximize the value [for yourself] on a given trade or deal … but you build a business and a relationship for the long term.”

Since 2011, when MFG significantly expanded its capital markets focus and staffing, the debt capital markets group has done about 750 deals with over $920 billion in issuance from 156 unique issuers. In 2015, the firm was involved in 76 municipal deals for about $32.5 billion and so far in 2016, it has been involved in about 66 deals for about $30.8 billion.

In 2015, the firm had a record breaking year, with all underwriting areas doing about $295 billion of business in 107 issues.

“Our business ethos is we want people to say ‘great firm, great origination, great trading great service, great distribution and oh, by the way, they’re a service disabled veteran firm that gives back.’ That’s what it’s all about for us,” he said.

In its charitable role, MFG will donate a percentage of the entire month of November’s profits to The Bob Woodruff Foundation, The Johnny Mac Soldiers Fund and Buildon.org in observance of Veterans Day 2016.

For Mischler Financial Group, the battle to add value for its clients and provide support for the country while keeping its focus on those who have served in the military, is one precept to which they will be always faithful.

To continue reading coverage from The Bond Buyer, please click here (more…)

Mischler Muni Market Outlook Week of 11-07-16
November 2016      Muni Market   

Mischler Municipal Debt Market Update for the week commencing 11.07.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Muni Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

This week, the negotiated market is led by $348.0 million for Chesapeake Bay Bridge and Tunnel District, Virginia.  The competitive market is led by $122.1 million for Sequoia Union HSD, California on Wednesday.   

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

mischler-muni-market-outlook-11-07-16

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers, municipal debt issuers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer. Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

 Municipal Debt Market -Mischler Outlook Week of 11-07-16

Mischler Muni Market Update Week of 10.24.16 : NJ Transportation; Alaska Pension
October 2016      Muni Market   

Mischler Municipal Debt Market Update for the week commencing 10.24.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Muni Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

Last week muni volume was about $14.8 billion.  This week volume is expected to be $16.5 billion. The negotiated market is led by $2.8 billion for New Jersey Transportation Trust Fund Authority and $2.4 billion taxable POB’s for Alaska Pension Obligation Bond Corp. The competitive market is led by $693.0 million for the Maryland Department of Transportation in 2 bids on Wednesday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler-muni-market-update-week-10-24

 

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers, municipal debt issuers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer. Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

Mischler Muni Market Update Week of 10.24.16 : NJ Transportation; Alaska Pension

Mischler Muni Market Outlook: $15bil Scheduled
October 2016      Muni Market   

Mischler Municipal Debt Market Update for the week commencing 10.17.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Muni Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

Last week muni volume was about $9.0 billion.  This week volume is expected to be $15.4 billion.  The negotiated market is led by $1.0 billion of tax-exempt and taxable bonds for New Jersey Healthcare Financing Authority for Robert Woods Johnson Barnabas Health.  The competitive market is led by $1.6 billion general obligation bonds for the State of California in 3 bids on Tuesday

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler-muni-market

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers, municipal debt issuers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer. Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

Mischler Municipal Debt Outlook Week of Oct 11
October 2016      Muni Market   

Mischler Municipal Debt Market Update for the holiday-shortened week commencing 10.11.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Muni Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

The negotiated market is led by $1.3 billion general obligation bonds for the State of Illinois.  The competitive market is led by $138.0 million revenue bonds for Campbell County Sanitation District, Arizona on Wednesday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler-municipal-debt-market-outlook-10112016

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers, municipal debt issuers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer. Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

Post title: Mischler Municipal Debt Outlook Week of Oct 11

Muni Madness Week of Oct 3-Mischler Municipal Debt Outlook
October 2016      Muni Market   

It is almost a Muni Madness state of affairs as the municipal debt issuance schedule for the week is packed with offerings, and is led by State of Mass Development Finance Agency backs Harvard University’s $1.5bil capital formation….

Mischler Muni Market Update for week commencing 10.03.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Muni Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

Last week muni volume was $5.7 billion. This week volume is expected to be $14.2 billion. The negotiated market is led by $1.5 billion for Harvard University issued by Massachusetts Development Finance Agency. The competitive market is led by $325.0 million GO bonds for the State of Wisconsin on Thursday.

Further, Mischler Financial Group is slated for roles in the upcoming transactions for the week.

  1. Mischler is a Co-Senior Manager for $167mm Dept of Veteran Affairs of Calif, (Cal Vets): Wed Retail; Thurs Institutional
  2. Mischler is a Co-Manager for $527mm State Public Works Board of Calif (SPWB): Tues-Retail; Wed-Institutional
  3. Mischler is a Co-Manager for $1.1 b Dormitory Auth of NYS (DASNY)  This is our first time since being assigned to the Co-Manager pool!: Wed-Retail; Thurs-Institutional
  4. Mischler is a Selling-Group Member for $627mm Metropolitan Transportation  Auth (MTA): Wed-Retail; Thurs-Institutional
  5. Mischler is a Selling-Group Member for $615mm Texas Transportation Commission. (Texas Trans): Prices Thursday

Above, below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

muni madness mischler

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer. Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc. Post title: Muni Madness Week of Oct 3-Mischler Municipal Debt Outlook

GO Bonds- State of Hawaii- Mischler Muni Market Outlook Week of Sept 26
September 2016      Muni Market   

Go Get Your GO Bonds….Mischler Muni Market Update for week commencing 09.26.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Muni Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

This week’s negotiated market is led by $676.0 million tax-exempt and taxable GO bonds for the State of Hawaii. The competitive market is led by $200.0 million GO bonds for Mecklenburg County, North Carolina on Thursday.

 

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler muni market

 

 

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer. Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

Mischler Muni Market : Select Offerings Scheduled Week of Sept 19
September 2016      Muni Market   

Mischler Muni Market Update for week commencing 09.19.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Muni Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

The negotiated market is led by $700.0 million taxable bonds for Providence St. Joseph Health Obligated Group and $649.9 million tax-exempt and taxable bonds for Pennsylvania Turnpike
Commission. The competitive market is led by $1.1 billion bonds for Dormitory Authority of the State of New York in 3 bids on Thursday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler muni market update

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer. Mischler Muni Market updates are provided as a courtesy to institutional clients of Mischler Financial Group, Inc.

Municipal Debt Issuance-Looking Back and Looking Forward
September 2016      Muni Market   

Municipal Debt Issuance: Looking forward: MTA Hudson Rail Yards Trust Obligations: $1.06bil is the largest scheduled offering of the week

Mischler Muni Market Update for week commencing 09.12.16 looks back to last week’s metrics and provides a lens focused on selected municipal bond offerings for this week. As always, the Mischler Munci Market snapshot provides public finance investment managers, institutional investors focused on municipal debt and municipal bond market participants a summary of prior week’s muni bond activity, including credit spreads, money flows and a curated view of pending municipal finance offerings scheduled for this week’s pending issuance.

Last week muni volume was $2.6 billion.This week volume is expected to be $11.4 billion. The negotiated market is led by $1.06 billion MTA Hudson Rail Yards Trust Obligations. The competitive market is led by $550.4 million tax-exempt, taxable and AMT revenue bonds for Virginia Public Building Authority in 3 bids on Wednesday.

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler muni market update

 

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer.

Mischler Muni Market Outlook Week of Sep 6
September 2016      Muni Market   

Muni Market Outlook & Select Municipal Debt Scheduled Offerings of the Week: Texas Transportion Commission, NYS Dormitory Authority “PIT” Bonds

Mischler Muni Market Update for the post Labor Day, holiday-shortened week commencing 09.06.16 provides public finance investment managers and municipal bond market participants a snapshot of last week’s muni bond activity, including credit spreads, and a look at selected pending municipal finance offerings for this week’s pending issuance.

This week volume is expected to be $5.5 billion.  The negotiated market is led by $615.26 million highway trust first tier revenue bonds for Texas Transportation Commission.  The competitive market is led by $704.68 million PIT bonds for Dormitory Authority of the State of New York on Thursday

Below and attached is neither a recommendation or offer to purchase or sell securities. Mischler Financial Group is not a Municipal Advisor. For additional information, please contact Managing Director Richard Tilghman at 203.276.6656

For reading ease, please click on image below

mischler-muni-market-outlook

 

Mischler Financial Group debt capital market expertise, inclusive of Debt Origination, Distribution, Primary Market Access and Secondary Market trading across the full spectrum of fixed income markets is courtesy of our 18-member team of debt market veterans is what makes MFG’s Fixed Income Group a compelling partner to Fortune issuers, corporate treasurers and the world’s leading institutional investors.

To illustrate our presence within the Debt Capital Markets space: since 2014 alone,  Mischler has led, co-managed and/or served as selling group member for more than $500 Billion (notional value) in new debt and preferred shares issued by Fortune corporations, new companies via IPO, as well as debt issued by various municipalities and US Government agencies.

Mischler Financial Group is a federally-certified Service-Disabled Veteran Owned Business Enterprise (SDVOBE) and a recognized minority broker-dealer.

Pages:«123456»