After learning about their positive swap unwind, this client returned to CMAC to secure $7,000,000 of new debt, on top of the group’s existing $18,700,000 financing. The objective of the incremental debt was to reduce buy-ins and payoff partner buyouts. Acknowledging the close relationship that the client had developed with its bank, CMAC worked directly with the group’s incumbent bank to create a streamlined, seamless process for this financing. The bank produced an extremely competitive proposal with full awareness that CMAC had the ability to vet the market for other proposals should there be an opportunity for improvement. CMAC also enabled the bank to hold the rate amidst a rising-rate environment. During the period between the initial offer and closing, the market rose by over 1%. The partners were happy to secure the needed debt with an attractive rate.