Stephens’ public finance practice dates back more than 90 years and is headquartered here in Little Rock. The firm has additional public finance offices throughout the Southeast in Fayetteville, Atlanta, Dallas, Jackson, and Nashville. The depth of resources at Stephens, combined with our trusted and experienced advisors, can assist you with a range of services to meet your needs.
Alfred Ray, Vice President in Public Finance discusses why "The Stephens Approach," focused on achieving the best financing possible for our clients, is a key differentiator. From iconic venues such as the Louisiana Superdome, to vital institutions including the Arkansas Children’s Hospital, and even to small-town elementary schools in Texas, Stephens’ commitment is steadfast.
Welcome to the Stephens Public Finance 2023 Mid-Year Review. I am thrilled to share with you this summary of our insights and activities from the first half of 2023. Our bankers have captured their best ideas and distilled them into actionable takeaways for the municipal market.
Public Finance is unlike any other area of banking and financial services in that the need for clean water, safe schools, and efficient civic infrastructure doesn’t abate when interest rates rise or a recession hits. No matter how challenging the environment, we never take a break from working with our clients to accomplish their goals.
Hurricane Ian’s path of destruction—from Cuba to Florida and then on to South Carolina—wiped out $67 billion-worth of real estate and infrastructure. As residents of the hardest-hit areas assess the damage and clear away debris, what’s undoubtedly on the minds of many of them is how to rebuild stronger and better.
Dennis Hunt, Executive Vice President and Head of Public Finance at Stephens, shares his perspective on how our bankers work with local and state-level entities to achieve their funding goals.
From our base in Arkansas, Stephens has expanded throughout the South and Southeast over the past several years. Our practice includes negotiated and competitive underwritings, as well as municipal advisory work. The firm’s securities distribution capability with individual and institutional investors is a proven strength. As a result of our capital position, we are able to underwrite bonds quickly and efficiently for clients.
Dennis Hunt, Head of Stephens Public Finance, reflects on 2021 and reports what’s on the horizon for 2022
With interest rates at historic lows, many Arkansas school districts have refinanced or “refunded” their outstanding municipal bonds to reduce their interest costs. In fact, Arkansas school districts represented by Stephens saved more than $41 million during 2020 by refunding their outstanding bonds.
Leigh Ann Biernat, CPA and Senior Vice President at Stephens Public Finance, was the lead banker on an $85.81 million issuance of public safety charges revenue bonds for the Arkansas Development Finance Authority (ADFA). Stephens served as principal underwriter driving the complex transaction, which was executed in December and whose bond payments commenced in June.