7 Reasons why Clients Choose BLX

  1. Expertise
  2. Long-Standing Institution
  3. Prompt Responses to IRS Inquiries
  4. Customized and Detailed Analyses
  5. Thorough Tax Review
  6. Efficient Processes
  7. Personalized Service


* To find out how BLX can assist you with Arbitrage Consulting, contact any one of our local offices, or click here to request additional information.

Sample Client List – Arbitrage Rebate

  • Idaho Housing and Finance Association
  • State of California
  • Piedmont Municipal Power Agency
    South Carolina
  • Katten Muchin Rosenman
  • State of South Carolina
  • New Jersey Educational Facilities Authority
    New Jersey
  • Miami-Dade County
  • Iowa Student Loan Liquidity Corporation
  • City of Cleveland
  • Pennsylvania Higher Education Assistance Agency
  • New York City Municipal Water Finance Authority
    New York
  • Municipal Electric Authority of Georgia
  • Missouri Higher Education Loan Authority
  • Kentucky Housing Corporation
  • New Jersey Housing and Mortgage Finance Agency
    New Jersey
  • San Francisco International Airport
  • Alaska Municipal Bond Bank
  • City & County of Honolulu
  • Riverside Unified School District
  • Sunshine State Governmental Financing Commission
  • Illinois Housing Development Authority
  • City of Los Angeles
  • Ohio Housing Finance Agency
  • New Jersey Higher Education Student Assistance Authority
    New Jersey
  • Tennessee Municipal Bond Fund
  • State of Hawaii

Arbitrage Rebate

BLX Group offers tax-exempt issuers and borrowers personalized service and proven solutions. Our experience in successfully managing some of the toughest, most complex arbitrage compliance projects in the business has helped us build a trusted reputation among the nation’s largest and most demanding issuers since 1989. At the same time, BLX has earned the confidence of even the smallest issuers. Our regional expertise, coupled with our national resources, allows our fully staffed offices to deliver local service across the country.


With over two decades of arbitrage consulting experience, BLX continually educates our people and works to improve our processes, knowing that both elements are necessary for us to retain our position as industry leader in size, scope, and expertise year in and year out. This equates to a knowledgeable and efficient staff to serve you.

BLX Consults, Evaluates, Structures, and Implements[more]

BLX professionals apply their extensive experience by consulting with issuers and borrowers to evaluate, structure, and implement debt and investment strategies for tax-exempt transactions across the full range of issue types and complexities. Our clients are assured that we consider all prudent strategies to optimize the economics of their transactions as evidenced by our leading market position and our leadership in designing new products and services. We closely coordinate our services with the national leading public finance practice of Orrick, Herrington and Sutcliffe, LLP. 1

Prompt Responses Plus Customized Detailed Analyses[more]

BLX professionals pride themselves on their prompt response to client and IRS requests for clarification or additional supporting documentation. In addition, BLX analysts are trained to identify the approach that produces the best result for each situation and design individualized valuation and allocation strategies. While every bond issue is unique, our flexible approach allows BLX professionals to adapt to the differences and account for all investment types, cash-flow characteristics, and bond structures. This approach not only meets IRS requirements for compliance purposes, it also makes our analyses and reports invaluable when making investment decisions and documenting post issuance compliance.

Reducing the Real Cost of Arbitrage Compliance[more]

We have seen many issuers hire the lowest priced consultant only to find out that they ended up paying far more than expected when you consider the total cost of arbitrage compliance. As budgets tighten, this unfortunate result seems to happen more frequently. This does not have to be your story. Taking an issue-by-issue approach, our services are designed to take advantage of regulatory applications, allocations, and exceptions, and thereby minimize rebate and yield reduction payments. BLX Arbitrage analyses are invaluable in assessing if an issue in functioning optimally from economic and overall compliance perspectives.

For more information, or questions please contact:

Sandra Stallings
214 989 2701

[1] BLX Group is a wholly owned subsidiary of
Orrick, Herrington and Sutcliffe, LLP.

©2018 BLX Group