HilltopSecurities Supports Public Sector Clients with Solutions to Financial Impacts of Historic Winter Storm
02/19/2021
DALLAS, February 19, 2021 – As Texas and other southern states begin to dig out of this week’s historic winter storm, Texas-based HilltopSecurities is actively working with public sector clients to help address the unprecedented financial impact of the week-long freezing temperatures. We have helped municipal clients through catastrophic weather events and other challenges for 75 years and are standing by our clients, helping them find solutions during these extremely challenging times.
“Like so many in Texas, Oklahoma and other states, we have hundreds of employees who are personally affected by this winter storm and are concerned for the health and safety of everyone impacted,” said HilltopSecurities Head of Public Finance David Medanich. “We know that many of our governmental clients are experiencing increased costs of delivering services. In fact, we are aware of one who paid more for power costs in the past week than it did in all of 2019. We are actively working with them to find solutions to address these additional costs and challenges. And while there is certainly an urgency to find solutions today, we know the true impact and cost of this week will not be fully understood for some time. We are helping our clients evaluate all kinds of options including cash management strategies as well as short term borrowings like interfund loans, bank notes, commercial paper, and Tax and Revenue Anticipation Notes.”
HilltopSecurities is working as a team with our clients’ staff, their attorneys, Attorney General’s office, state legislators, and other public officials to assist in navigating the personal and financial impacts of the winter storm. Our goal is to meet their immediate needs while we continue to develop long-term solutions to address the ongoing impacts of the emergency.
If we can be of assistance to any public sector entities in need of options or financial guidance please visit the Winter Storm Resources page of our website.
About Hilltop Securities Inc.
Hilltop Securities Inc. delivers forthright advice and tailored solutions for municipal issuers, institutions, broker-dealers, and individuals. The full-service municipal investment bank and registered investment adviser is headquartered in Dallas, Texas, with offices across the United States. Areas of focus include public finance; municipal and taxable fixed income underwriting, sales, and trading; retail brokerage services; securities clearing; structured finance; and securities lending. A wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH), HilltopSecurities’ affiliates include Momentum Independent Network Inc., PlainsCapital Bank, and PrimeLending. Learn more at www.HilltopSecurities.com. Member: NYSE/FINRA/SIPC.
Contact:
Hilltop Holdings Inc.
Ben Brooks
214.252.4047
ben.brooks@hilltop-holdings.com
