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Saber Partners, LLC provided financial advisory and expert witness services to the State of Florida, Public Service Commission ("FPSC") with respect to proposals to issue storm/hurricane-recovery bonds by the state's investor-owned electric utilities. This was the first use of securitization to pay for hurricane damage and other costs in order to protect ratepayer interests while recognizing the needs of the utilities for certainty of recovery.
The financial advisor assisted the FPSC with analyzing petitions requesting recovery of hurricane-recovery costs through securitization, preparing and implementing any financing orders, and reviewing the subsequent issuance of storm recovery bonds to ensure compliance with Section 366.8260, Florida Statutes, and the irrevocable financing order.
The hurricane-recovery bonds were issued to recoup current hurricane-recovery expenses, and/or to replenish storm recovery reserves in the event of future storm damage.
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