Porter & Co. approaches each financial advisory and strategic management consulting assignment with a unique, results-oriented comprehensive action plan designed to achieve not only the desired funding objective, but also to position appropriately that objective within the overall long-term corporate business strategy of its clients. Optimal financial solutions involve the integration of several different elements ranging from transaction specific input such as Federal, state and local regulations, accounting treatment, and tax credits and other financial incentives, to selection of complementary debt and equity funders, to opportunistic initiatives such as teaming and joint venture participation and many other essential components of an effective and dynamic corporate business strategy. Porter & Co. acts as the focal point and integrator of these disciplines working with a client’s existing relationships or, with client involvement, retaining entities with recognized expertise in particular fields. This approach produces excellent, cost-effective results in a timely, comprehensive manner.
In addition to tailoring the appropriate technical skill set to achieve client objectives, Porter & Co. provides ongoing program monitoring and management consulting assistance to assure that the full benefit of the program is realized. These activities may include assisting in organizational structure and personnel selection, obtaining curative legislation, contract renegotiation/amendment or administrative determinations, preparing financial presentations to investors and rating agencies, developing public relations and marketing campaigns, introducing enhanced services programs, and other support activities.
Porter & Co.’s comprehensive business focus distinguishes the firm in the financial advisory and management consulting areas in several ways:
· Integration of coordinated technical resources to analyze thoroughly a wide range of opportunities and alternative approaches in order to produce optimal solutions for unique client financial needs;
· Assistance in other management decisions and actions necessary to assure the full effectiveness and success of the assignment throughout the company or industry;
· Delivery of exceptionally high value-added products and services tailored to specific finance-related requirements;
· Absolute and uncompromised commitment to producing the best results for its clients through specific understanding of client needs, dedication and innovative financial solutions.
Recent Transaction Highlights
o Designed and executed comprehensive debt defeasance and integrated restructuring transactions involving two wholesale utilities in neighboring states that lowered power costs for each utility for several years.
o Successfully privately placed debt for a large governmental utility following a failed public offering.
o Structured and executed unique utility funding program for suppliers of HVAC equipment and operation and maintenance services. Funding solutions considered best in industry.
o Created and modeled comprehensive financing and operating model for emerging innovative solar power technology. Initial $1 billion project financing being pursued.
o Developed and negotiated strategic long-term portfolio reinvestment program for a regional power agency which provided a significantly higher return and complete protection from market volatility. Investment rated AAA. Present value of earnings represented over 15% of revenues.
o Credit ratings upgrade from two rating agencies for state power authority from weak A to strong AA based primarily on strength of generation assets. Noted as one of the finest presentations made to each rating agency.
o Largest structured investment for national environmental remediation fund undertaken for utility properties located in the northeast.
o Fast-track execution of complex $60 million crossover refunding that took advantage of one-week market window to produce the highest savings possible within that year.
o Assistance in structuring and negotiating terms for proposed acquisition of $350 million utility assets from multi-state investor-owned utility.
Other transactions led by J. Donald Porter include:
· Senior managing $1 billion refunding for Puerto Rico Electric Power Authority (Bond Buyer deal of the year)
· Co-senior managing $2.6 billion restructuring for North Carolina Eastern Municipal Power Agency
· Creating the investment banking industry’s first multi-modal variable rate demand bond (Jacksonville Electric Authority)
· Developing and executing an innovative state-wide water resource development program used as an important component of incumbent governor’s reelection campaign
· Attaining AAA rating for $250 million utility project, then rated C (imminent default), and sole managing a debt restructuring to achieve 25% reduction in debt service
· Creating, negotiating, and implementing unique $140 million funding program for uprating Hoover Dam (involved Western Area Power Administration, several power contractors in three states, local and state legislatures and regulatory agencies)
· Developing new strategic power and gas supply programs and value chain enhancements for Koch Industries
Currently Porter & Co. projects in process or pending total over $1 billion for utility, corporate and public sector clients.
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