Public Financial Management, Inc.

300 South Orange Avenue, Suite 1170
Orlando, FL 32801
United States of America


Professional Services //

Investment Banking


The PFM group has ranked a strong number one in the transportation finance field over the past 15 years, in both par amount and number of issues, reflecting our commitment to solving transportation challenges and our deep expertise. This year, we advised on nearly twice as many long-term municipal transportation transactions as the nearest competitor. With our experience, we understand that many transportation clients face challenges such as:

- Uncertain traffic/revenue
- Pressures to limit toll rates
- Increasing highway construction costs
- Pressure to operate more efficiently

PFM responds to these challenges with a full range of financial solutions, customized to best serve individual clients. Our core financial advisory services include:

- Project financial feasibility and valuation analysis
- Development of long term pro forma capital program and cash flow analyses
- Transaction structuring to minimize credit and balance sheet impact
- Design and management of transparent, fair and disciplined financing processes planned to achieve superior results
- Development of and assistance in implementing credit rating strategies designed to optimize ratings within a given set of operating & financial parameters
- Evaluation of the terms that drive transactions and thorough assessment of their potential value

PFM's experience ranges from difficult stand-alone start-up toll roads to mature turnpike system credits, including statewide and regional authorities, and major bridge and tunnel project financings. We also have extensive expertise with the TIFIA program and various senior/subordinate lien structures. Our review and analysis of toll facility financing plans considers all feasible funding approaches available in the current market:

- Traditional municipal bonds
- SAFETEA-LU private activity bonds
- Bank loans
- TIFIA loans
- Private equity financing

Members of our transportation group have an in-depth knowledge of U.S. Department of Transportation and Federal Highway Administration programs and we have been at the forefront of public-private partnerships (P3s) since their introduction to the U.S. markets. As a result, we understand the financial needs of toll facilities and the full range of potential financial solutions available.

In addition, The PFM group is a transportation finance partner capable of assisting with both sides of the balance sheet. While Public Financial Management, Inc. and the professionals of our Transportation Finance group focus on the debt side of the balance sheet and strategic planning, our colleagues at PFM Asset Management LLC (“PFMAM”), another in the PFM Group of companies, can help manage the assets of our transportation clients. PFMAM provides asset management and consulting relating to the cash and short term assets, reserve and/or bond proceeds funds along with retirement and other multi-asset class portfolios (e.g., Other Post-Employment Benefits or OPEB trusts) for a host of transportation entities. Our extensive knowledge of both sides of the balance sheet allows us to identify asset management opportunities that can benefit our transportation clients. These opportunities may manifest themselves in improving investment policy structure and guidelines, improving asset/liability or cash flow matching related to capital projects, adjusting asset allocations to better mitigate certain risks, or using structured products and other non-traditional assets to build custom portfolios to meet specific client needs. In any event, PFMAM is focused on providing for the wide array of asset management related needs for our transportation clients.

Whether your Transportation Finance needs are on the asset or the liability side of the balance sheet, the PFM Group of companies has the professionals and the expertise to assist you.