Municipal
Investment Banking

The hallmark of Rice Financial’s municipal fixed income business is our ability to provide creative solutions that save clients money and increase their financing flexibility. We also expose our municipal clients to a unique class of investors – a deep and exclusive professional retail customer base that is covered only by Rice and, in some cases, a handful of other banking firms.

In 2020 and 2021, Rice Financial provided underwriting services in more than $100 billion of municipal bond issues. The firm is a participant in more than 10% of all municipal infrastructure financings completed annually in the U.S. On the investment side, our desk sells approximately $10 billion in short-term security annually, including Treasuries, municipal and corporate bonds, and Federal agency securities, to ease cash flow and help clients finance date-certain projects.

Rice Financial consistently ranks among the nation’s top MWBE firms. And as a Black-owned company, Rice helps communities meet their goals for inclusivity and better represent the communities they serve.

Transaction Highlights

Primary Market

Rice Financial’s bankers and underwriters have a hard‐earned reputation for providing creative bond structuring and marketing solutions to clients that they won’t get anywhere else. Every year, we are an underwriter in more than 10% of all municipal bond financings completed in the United States. Our underwriting, sales and trading team has senior managed bond issues totaling more than $12 billion, including financings for major clients like the states of Connecticut, Illinois, New York and Ohio, and the cities of Chicago, Houston and New York City.

Secondary Market

Rice Financial’s secondary market trading activities allow us to provide a source of liquidity in the secondary market for our state and local government clients as well as our institutional and retail investors. Our secondary market portfolio is liquidated and replenished frequently through the firm’s normal original issue and secondary market activities.

Short-Duration Investing

Rice Financial’s Institutional Fixed Income Desk provides secondary market sales of short duration securities to state and local governments. We specialize in investments in taxable and tax‐exempt fixed income securities for liquidity purposes and to fund near‐term projects. Rice averages $10 billion annually in sales of short‐term securities to state and local governments and portfolio managers. Virtually all of this business was done on a competitive basis.

Rice Financial is active in the daily sales and trading of U.S. Treasury Securities, U.S. Agency Bonds, Certificates of Deposit (CDs), Corporate Notes and Bonds, Commercial Paper and Municipal Bonds. Our extensive and experienced market access allows us to provide the best in competitive services in the primary and secondary markets, and our relationships with the GSEs (Fannie Mae, Freddie Mac, Federal Home Loan Bank and Farmer Mac) afford us the ability to structure the most competitive investments for our customers.

Electronic Delivery of Offering Materials in GSE Securities

Kevin Schuyler

Municipal Investment Banking Contact

Kevin Schuyler
Managing Director

(212) 908-9207
[email protected]

Fixed Income Trading Contact

Tim Barbera
Head of Sales and Trading

(212) 908-9260
[email protected]