Issuing Public Debt (Henrico) 2018

This course, led by practioners in Virginia’s municipal finance industry, provides muni bond issuers foundational knowledge to help navigate the municipal bond market when issuing debt. It provides an overview of the municipal market, key participants in a transaction & their roles, and provides a roadmap for the process for issuing the municipal bonds, with emphasis on how the credit agencies determine & assign ratings. The course also reviews the basics of bond math, types of bond structures & how a bond sizing is developed whether an issuer is borrowing money to construct a capital project or to implement a refinancing of existing debt for savings. The course integrates relevant examples from the current & historical muni finance landscape (in Virginia & nationally) to match instructional content. Additional topics related to muni bond issuance are covered in brief, including the use of interest rate swaps, investment of bond proceeds and arbitrage rebate compliance.