Focused solutions from a team at the forefront.

Raymond James has one of the strongest airport resumes among U.S. investment banks. As a national leader, our Airport Finance team has extensive experience, having managed 286 airport issues with a total par amount of more than $39 billion since 2000. We have a broad network of ... Read More

Full-service Capabilities

  • » Underwriting
  • » Financial Advisory
  • » Debt Portfolio Analysis
  • » Derivatives Advisory
  • » Rating Agency Strategy
  • » Development of Legal Frameworks

Team

D.J. Mehigan

D.J. Mehigan

Managing Director
Richmond

804.225.1147 + Expand Bio


As head of the firm’s Airport Finance group, D.J. has extensive experience working exclusively with airport issuers as a feasibility consultant, financial advisor, and primarily as an underwriter for the past 18 years. He has expertise in structuring debt, leveraging Passenger Facility Charges (PFCs) and Customer Facility Charges (CFCs), evaluating alternative plans of finance, and developing credit strategies. Unlike many transportation bankers who often work on other surface, toll, highway, and even governmental transactions, D.J.’s municipal experience is strictly in the airport sector having worked with airports for former employers Jeffries and LeighFisher prior to joining Raymond James in 2004.


In addition to a deep resume of fixed-rate airport revenue bond transactions, he has led CFC rental car, PFC, Fixed-Base Operator, variable-rate, stand-alone parking, derivative, and other special facility financings. D.J. has worked on more than $15 billion of debt offerings for dozens of airports including Boston, Chicago, Dallas, Denver, Fort Lauderdale, Fresno, Guam, Manchester, Milwaukee, Nashville, New Orleans, Orlando, Panama City, Pittsburgh, Portland, Raleigh-Durham, Richmond, Salt Lake City, San Francisco and Shreveport. He is active in the airport industry with speaking engagements, sponsorships and attendance at Airports Council International and American Association of Airport Executives events. He received his Master of Business Administration from Northwestern University and his Master of Science and Bachelor of Science degrees in aerospace engineering from the University of Minnesota.

Reuben McDaniel

Reuben McDaniel

Managing Director
New York

646.557.1570 + Expand Bio


Reuben has more than 25 years of experience in public finance. During his career, he has completed a wide array of financings for major infrastructure projects for issuers throughout the country. Additionally, as former Chairman of the Atlanta Public Schools Board, he has experience on the issuer’s side of the table. Reuben was the president and CEO of Jackson Securities for over 10 years and managed all aspects of the firm’s municipal finance practice, including public finance, sales, trading, underwriting and risk management, successfully growing the firm into a national presence. He has seen a wide variety of financing structures and has the ability to effectively factor in the financial, policy and political implications of any proposed financing to assist in creating the best overall result for a client.


Reuben joined Raymond James from RM Capital Management, a wealth management firm he founded and managed as CEO for four years. His career also includes senior public finance positions at Bear Stearns and Dean Witter. He received his Master of Business Administration degree in Finance from the University of Texas at Austin and his undergraduate degree in Economics and Mathematics from the University of North Carolina at Charlotte. Reuben’s honors include being named one of the "75 most powerful African Americans on Wall Street" by Black Enterprise magazine and a "Whitney M. Young Community Service Award" winner from the Boy Scouts of America.

Dianne Klaiss

Dianne Klaiss

Senior Vice President
Boynton Beach

561.739.7909 + Expand Bio


Since 2000, Dianne has provided municipal banking services and financial advice on over $6 billion of transactions. Her experience includes structuring and banking municipal bond transactions on behalf of airport issuers, state level issuers, and general governmental and utility issuers. She has provided support banking and quantitative analysis for issuers such as Broward County (Fort Lauderdale-Hollywood International Airport), Metropolitan Washington Airports Authority, Massachusetts Port Authority, Boise Airport, Capital Region Airport Authority, Norfolk Airport Authority and Panama City Airport. Dianne has served as senior banker on recent transactions for the Rappahannock Regional Jail Authority, Western Virginia Regional Jail Authority, the City of Winchester, Virginia, and the City of Newport News, Virginia, among others.


Prior to joining the firm, Dianne spent three years with the investment banking firm of Ferris, Baker Watts, Inc. and two years with the regional accounting firm of Kreischer, Miller & Co. She attended Bloomsburg University and holds the Series 7, 79 and 63 licenses. Dianne is a founding board member and current president of the Women in Public Finance – Virginia Chapter.

Matt Palumbo

Matt Palumbo

Vice President
Richmond

804.225.1109 + Expand Bio


Matt joined Raymond James in February 2015 as a vice president with more than 10 years of experience in municipal investment banking, focusing on government, education, healthcare and project finance. He received his Bachelor of Science degree in finance from the University of Denver and his Master of Science degree in international finance from SKEMA Business School in Sophia Antipolis, France. Matt holds Series 7 and 63 licenses.

Jock Wright

Jock Wright

Managing Director, Senior Underwriter
New York

212.909.4047 + Expand Bio


Jock is a senior underwriter in the New York office who focuses on airports and healthcare and has underwritten transactions for issuers of all sizes and credit qualities. He plays an active role assisting the Airport Finance group with bond market structuring and other advice. He previously spent three years in municipal underwriting at Eastern Bank in Boston and 10 years at State Street Bank in Boston, where he managed the underwriting and trading desk. Jock also has worked at Bank of Boston, Bank of America and Lehman Brothers.

Featured Transactions

About our transaction

  • Over $1.3 billion of total orders from the syndicate (85% from Raymond James) and more than 20 new investors helped secure an all-in interest rate of 4.02%.
  • Despite $1.5 billion issued for the Airport over the past three years, FLL maintained its A1/A+ underlying ratings.

About our transaction

  • Over $11 billion of orders from the syndicate led to tightening of yields for many maturities and allowed the City and the Department of Aviation to capture over $200 million of net present value savings.

About our transaction

  • Raymond James worked closely with S&P to create a new underlying rating (BBB+, only 1 notch off the senior lien) for the bonds that had previously not had an underlying rating.
  • We structured the transaction to utilize a 5-year call option, which incurred no yield penalty due to the use of discount bonds.

About our transaction

  • The bonds were 3X oversubscribed.
  • The bonds were placed with over 20 firms who either did not hold any of Massport’s bonds or held less than $500,000.
  • Over $70 million of professional retail orders were secured.
  • Spreads to MMD were over 20 bps lower than the spreads to MMD for Massport’s prior transaction.

About our transaction

  • Bonds were priced 20 to 60 basis points lower than the average spreads to MMD for the $1 billion of bonds DFW had issued most recently.
  • DFW was pleased with the par bond structure in 2045 (4.5% coupon and yield), which reduced the yield to maturity by 17 basis points as compared to a 5% premium, and decided to double that maturity, upsizing the premium to $223 million.

About our transaction

  • We helped secure a AA-rated Build America Mutual (BAM) bond insurance policy – the first time BAM was used for an airport.
  • Raymond James worked closely with the finance team and developed the rating presentation that resulted in affirmed Baa1/BBB/BBB ratings.

About our transaction

  • Raymond James uncovered this advance refunding option in 2012. In less than 3 months after being hired in February 2013, the transaction closed.
  • The 2-year advance refunding locked in $1.9 million of net present value savings in April before a significant bond market sell-off in May.

About our transaction

  • Raymond James was the primary author of the rating presentation that resulted in an affirmation of the strong A1/A+ ratings, despite this new money bond issue.
  • Garnered $38 million of orders (over 3.0x oversubscribed) that allowed for a tightening of yields.