The Bond Buyer reported PRAG ranked as the #2 financial advisory firm in the nation in the first quarter of 2017, according to Thomson Reuters. So far in 2017, PRAG has advised on 40 deals, totaling over $11.2 billion.
According to the Bond Buyer’s report published April 4, 2017, PRAG also ranked #1 as the “Top Financial Advisers (Competitive)” for the first quarter of 2017, having advised on $4.1 billion worth of competitive issues.
PRAG has been consistently ranked as one of the top three financial advisory firms nationally every year over the past two decades, having advised on over 1,200 issues totaling over $486 billion since our inception in 1985. PRAG’s financing experience includes revenue bonds, general obligation bonds, certificates of participation, commercial paper, revenue and tax anticipation notes, bond anticipation notes, securitizations, non-dollar denominated bonds, index notes, stepped-coupon obligations, as well as taxable municipal securities.
PRAG remains one of the top-ranked financial advisory firms in the nation. In its 2015 full year rankings, Thomson Reuters named PRAG the third largest financial advisory firm nationally, having advised on 155 deals, almost 10% of the market share. 75 of those deals, comprising 15% of the total market share, were competitive issues totaling over $12.4 billion. The remainder 80 deals were negotiated and totaled $18.4 billion or 8.1% of the total market share.
According to the Bond Buyer’s Annual Review published February 22, 2016, PRAG ranked as the top Financial Advisors for General Purpose issuances in 2015, having advised on $21.7 billion worth of issues.
Thompson Reuters US Municipal Financial Advisor Rankings for 2015.
PRAG has been consistently ranked as one of the top three financial advisory firms nationally every year over the past two decades, having completed approximately half a trillion dollars of transactions since the founding of PRAG in 1985. PRAG’s financing experience includes revenue bonds, general obligation bonds, certificates of participation, commercial paper, revenue and tax anticipation notes, bond anticipation notes, securitizations, non-dollar denominated bonds, index notes, stepped-coupon obligations, as well as taxable municipal securities.
August 1, 2015
As of August 1, 2015, Senior Managing Director, Barry Valentinsen has retired from PRAG. Over the past 18 years, Mr. Valentinsen has provided valuable service to the firm’s clients. Although retired, Mr. Valentinsen will continue to serve certain PRAG clients as a Senior Counselor of the firm.
July 14, 2015
PRAG’s New York City headquarters has moved to:
39 Broadway, Suite 1210
New York, NY 10006
The firm looks forward to continuing to serve clients from our new location.
May 1, 2015
PRAG, founded in 1985, celebrates its 30th anniversary as a leading independent financial advisor to state and local governments, authorities, agencies and other entities that secure funding in the public capital market. Since PRAG’s inception, the firm has remained committed to providing high-quality independent advice, responsive service and the commitment of experienced personnel, supported by credit, market and quantitative expertise. PRAG looks forward to serving our valued clients for many years to come.
February 19, 2015
Steven Peyser, President of PRAG, spoke at the The Bond Buyer’s National Outlook 2015 Conference held February 18 in New York City. A highly debated topic on his panel, “Municipal Advisors Assuming a More Regulated Role,” was the Independent Registered Municipal Advisor, or IRMA, exemption, part of the SEC’s municipal advisor, or MA, registration rule, which went into effect last year. The exemption allows an underwriter to avoid having to register as a MA as long as the issuer retains, as its own MA, an advisor that doesn’t have ties to an underwriting firm and says that it will rely on the MA’s advice. Mr. Peyser discussed tweaking the exemption including the idea that the SEC grant another exemption for sophisticated issuers, which have historically used IRMAs, a suggestion that has garnered support from the industry. Regulators recognized that the new MA rules may still have to be developed, as apparent by SEC Chief Counsel Rebecca Olsen’s statement there was “a lot of work left to do” on the rules in 2015. For more information on this panel and on The Bond Buyer’s National Outlook 2015 Conference please see the article “Municipal Advisors Concerned About IRMA Exemption” published in the February 18, 2015 The Bond Buyer.