Practice Areas — Refunding Verification Services
Smith, Cochran & Hicks, PLLC has provided verification services for municipal debt refundings since 1990. The municipal market has changed through the years with new security options and increased regulation and we have met the challenges of this changing market, continuing to provide quality verification services to issuers of municipal debt across the nation.
Smith, Cochran & Hicks, PLLC verification services encompass:
- Redemption requirements of debt to be refunded, including any redemption premiums
- Debt service requirements and various yields of the refunding debt, whether fixed or variable yield, or current interest or capital appreciation/accretion bonds
- Sufficiency of escrow cash flows
- Yield on the escrowed securities
- Interest cost savings to the issuer as a result of the refunding transaction
- Transferred proceeds adjustments
- Projected debt coverage