William Blair & Company has structured and executed a wide variety of derivative structures for our municipal clients ranging from straightforward interest rate swaps to those involving complex optionality. Our firm does not act as a counterparty in derivative transactions; rather, we act as an advocate for our clients in an advisory role due to the inherent conflict of interest between acting as advisor and counterparty.

William Blair & Company’s philosophy revolves around using the derivative market only when our clients' needs cannot be addressed in the traditional capital markets. Based on need and suitability, William Blair & Company professionals present clients with detailed information regarding the pros and cons of each structure.

More Information:

Taxable Bonds – Conversion of 1-Month LIBOR Based Swaps (PDF)

Tax-Exempt Bonds – Conversion of 1-Month LIBOR Based Swaps (PDF)