Please join us for an update discussion on public finance and debt.
Daniel Kozloff will provide a general update on the current tax-exempt market and relevant developments and considerations for municipal bond issuers; including:
-Historic low interest rate levels and their impact on financing costs and negative arbitrage
-Overview of a break-even analysis for issuance size and timing in the current market
-Discussion of option value and its use as an additional decision-making tool for refunding opportunities
-Review of revisions to the Basel III liquidity coverage ratio requirements for banks
Mark Vacha will provide an update on recent legal developments in public finance with a particular focus upon securities law and disclosure developments including, among other topics, emerging best practices related to pension disclosure, the SEC’s 2012 report on the municipal securities market and related recommendations, and Municipal Securities Rulemaking Board developments. Mark will also briefly address post-issuance compliance policies related to federal bond tax rules and developments related to Chapter 9 municipal bankruptcy and state law fiscal recovery programs.