City of Memphis Sewer System Flows Smoothly After Bond Sale
In an uncertain interest rate environment, DW was able to obtain substantial savings for the City of Memphis Sewer System by effectively underwriting and marketing the bonds to a broad investor base. As a result of our efforts, DW received orders that totaled 3.5 times the amount of bonds being sold and, importantly, almost the entire transaction was purchased by retail investors. As a result, we were able to actually lower the interest rate even further for the issuer because of the strong demand. This is another example of DW working hard to improve the financial health of essential service providers and demonstrating its capabilities of working with large issuers.