Success Stories
California Pollution Control Financing Authority (CPCFA)

Our firm has served as the managing underwriter for 126 California Pollution Control Financing Authority (CPCFA) issues totaling in excess of $1.3 billion since 1991, for issues ranging in size from less than $1 million to more than $42 million. By leveraging the Authority's Small Business Assitance Fund, which subsidizes much of the cost of bond issuance for solid waste hauling and disposal firms in California that have less than 500 employees, we are able to achieve access into the capital markets for our clients at tax-exempt interest rates that compare very favorably with interest rates on conventional loans from commercial banks.

Our firm has unparalleled experience with solid waste companies and the solid waste industry. The firm’s familiarity with franchise and service agreements gives our professionals the ability to meet the needs of individual clients, whether the financing funds a new materials recovery/transfer station pursuant to a separate service agreement, or the expansion of existing hauling and landfill activities.

Two of the firm’s principals have served as lead banker during their careers for approximately 50% of the CPCFA’s bond issues. These financings have included privately and institutionally placed and publicly distributed fixed and variable rate long–term debt supported by corporate credits, the U.S. Small Business Administration, and various bank letters–of–credit.

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