DIXWORKS LLC is a single member limited liability company organized under the laws of the State of Connecticut founded on March 8, 2001 by Dennis Dix, Jr. The firm’s objective is to provide exceptional financial advisory and consulting services to medium- and smaller-sized Connecticut issuers on a selective basis.
Dennis retired as a Vice President from Fleet National Bank in March 2001, closing out 31 years of financial advisory service to Connecticut’s cities, towns, and special tax and regional school districts. During his long career, Dennis personally advised on bond issues in excess of $750 million and note issues totaling slightly less than $1 billion. Dennis realized there was a need for superior quality service and customer concern that was lacking in larger institutions. DIXWORKS LLC, unlike corporate players that rely on quantity, concentrates on quality and attention to detail. By focusing on the needs of the issuer rather than the bottom line, DIXWORKS LLC strives to achieve the highest standard of service, integrity, and professionalism.
The firm currently has over twenty financial advisory clients who have retained DIXWORKS LLC which include the towns of Avon, Deep River, East Granby, East Putnam Fire District #1, Franklin, Granby, Haddam, Lebanon, Manchester, Milbrook Owners Association (Greenwich), New Hartford, North Stonington, Old Colony Beach Club Association (Old Lyme), Pomfret, Prospect, Putnam, Regional School Districts No. 4, 7, 16, 17, and the town of Winchester.
Issuer confidence in the philosophy and expertise of DIXWORKS LLC has been gratifying. Current clients range in credit from Aaa to non-rated and in form of government from Manager to Mayor to First Selectman.
Qualifications and Experience
Dennis Dix, Jr. is the senior practicing municipal financial advisor in the State of Connecticut.
He has negotiated numerous advance refundings in times of favorable interest rates, saving issuers hundreds of thousands of dollars in debt service costs.
In 1997, he assisted the Town of Avon in obtaining the first new Connecticut Aaa rating from Moody’s in 19 years.
The Town of Manchester was interested in moving into the electronic arena to sell its notes and bonds. DIXWORKS LLC arranged for one the earliest uses of the Parity on-line bidding platform in 2001. Manchester became one of the first Connecticut issuers to use the MuniAuction electronic platform to sell a bond issue. More recently, DIXWORKS LLC worked with Manchester to sell the first Build America Bonds (BABs) in Connecticut and, in fact New England.
DIXWORKS LLC was financial advisor on a cutting edge derivative forward swap floating-to-fixed rate $10,000,000 GO Bond where the issuer was guaranteed a rate certain on February 1, 2006 two years earlier. Rates did not rise, and the issuer opted out of the swap for conventional bonds. Assisted by William Blair & Company, DIXWORKS LLC provided the analysis and recommendation to terminate the swap.
43 Years of Service 1971 - 2014