The Bond Finance Reference Guide provides readers with a thorough understanding of the different types of bonds, key players in a bond transaction, strategies and techniques in structuring, sizing, and closing bonds, the process of issuing bonds,...

COVID-19 has highlighted the need for broadband and the gaps in broadband access. As part of our collaboration with Ice Miller, this video is designed to provide a review of the various approaches to expanding broadband access and how to assess...

The Municipal Liquidity Facility is a Federal Reserve program created in April as a new financing source for state and local governments. This MLF factsheet was produced by the Pew Charitable Trusts in October 2020.

This report provides an update as of November 23, 2020 on all of the Federal Reserve's outstanding lending facilities. These include the Primary Dealer Credit Facility (PDCF), the Commercial Paper Funding Facility (CPFF), the Municipal Liquidity...

The Public Finance Network, a coalition of bipartisan organizations, released a new report, the Advance Refunding Myth Buster. The report aims to educate and inform partners on advance refunding municipal bonds, a crucial infrastructure financing...

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, finance experts discussed the Municipal Liquidity Facility's requirements, market trends since the MLF's launch, and what can be done to make the MLF an attractive...

What should issuers, underwriters, and advisors know about working with their team of professionals to complete a bond deal during times of crisis? This interview-style discussion featured a round-robin of advisors divulging the capital markets...

PricingDirect, a wholly-owned subsidiary of JPMorgan Chase & Co, recently joined the list of companies that deploy these innovative techniques, specifically Machine Learning (ML). Leveraging J.P. Morgan’s strengths in the application of ML within...

This document from the International Capital Market Association provides an overview for green bond market participants to consider when they are assessing the relevance, strengths, and weaknesses of various sustainability standards or labels as a...

During the first installment of the CDFA-PFM Capital Markets Webinar Series, we focused on the market impacts of COVID-19 through the start of June and what can be expected going forward.

Please be advised that on Tuesday, January 21, 2020, the Internal Revenue Service released a revised Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds (“IRS Form 8038-CP”).

While digital technology has transformed virtually every industry, in certain respects the muni bond market continues to operate in ways that date back to its origins more than 200 years ago. In this Bond Buyer white paper, find out how new...

The CDFA Conduit Bond Fee Study evaluates the landscape of current conduit bond fees in order to share best practices and common structures employed by conduit bond issuers across the country. The CDFA Conduit Bond Fee Study only looks at fees...

As the bond market changes, bond issuers must work diligently to keep their fee structures up to date. During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we looked beyond the fee structures and broke down the...

During this webinar, Bethany Pugh, Managing Director at PFM, Todd Fraizer, Managing Director at PFM, Austin McGuan, Director, Stifel Nicolaus & Company, Matthew Eisel, Managing Director at PFM, and Robert McCarthy, Partner with Bricker & Eckler LLP...

During this webinar, Daniel Kozloff with PFM, Jeffrey Pearsall with PFM, and Jay Bartlett with Citigroup Global Markets Inc. featured the pros and cons and the questions that remained twelve months into the new tax law.

Maik focuses on how bonds can be used today to provide a significant portion of a project's capital stack with a special focus on bond financing programs in Florida.

El Paso County this month completed a $50 million bond sale with an option redemption enhancement, the first such transaction in the Lone Star State. Ramirez & Co., which introduced the feature in January, says the option redemption enhancement, or...

The City of Venice, Florida, has issued a $15.4M green muni bond. It has 18 tranches with maturities ranging from 2016-2035 and coupons between 2-5%. The bond is rated AA, Aa2 and AA by S&P, Moody's and Fitch respectively.

While low Treasury yields are a dream from some, they are a nightmare for others. KPM Financial explains in this whitepaper how fixed rate loan prepayment penalties and interest rate swap terminations require very different calculations.

Strafford's shows special districts can provide a win-win-win situation for the local jurisdiction, the developer, and the ultimate owners of the benefited properties. Lending institutions, which advance credit to borrowers on properties located in...

John Haines, Mercy Corps Northwest; Carol McCoog, Hawkins Delafield & Wood LLP; Michael E. Schrader, Orrick, Herrington & Sutcliffe LP; and Geoff Urbina, KeyBanc Capital Markets discussed the outlook for bonds in the Oregon and consider creative...

John Haines, Mercy Corps Northwest; Carol McCoog, Hawkins Delafield & Wood LLP; Michael E. Schrader, Orrick, Herrington & Sutcliffe LP; and Geoff Urbina, KeyBanc Capital Markets discussed the outlook for bonds in the Oregon and consider creative...

This official statement for the Southeast Overtown/Park West Community Redevelopment Agency Tax Increment Revenue bonds provides a wealth of information on the TIF and bond structure for the BBB+ rated, $55.9M project.

This official statement for the Southeast Overtown/Park West Community Redevelopment Agency Tax Increment Revenue bonds provides a wealth of information on the TIF and bond structure for the BBB+ rated, $55.9M project.

The bond issuer plays an important role in bond financing which is presented by Tony Sertich of the California Housing Finance Agency.

Russell Goings of Hutchinson, Shockey, Erley & Co. illustrates how to structure bond deals touching on various topics including repayment sources, security features, credit enhancements, and other tools.

This paper from the Bond Dealers of America is intended to assist state and local governments in understanding the impact that the Municipal Advisor Rule of the SEC has on their sales and purchases of securities through brokerdealers.

During this webcast, Lynette Kelly of the MSRB, Leo Karwejna from Public Financial Management and John McNally of Hawkins Delafield & Wood LLP explained the role of the MA and discussed the proposed draft Rule G-42.

Robert Sanders and Lewis Milford with the Clean Energy Group make a number of innovative recommendations for expanding the use of solar generation for community development, specifically in low-income neighborhoods in Baltimore, Maryland.

Citigroup and JPMorgan Chase helped publish a guide to bond finance for clean energy and climate projects after a record year for the market in 2013. The document includes guidance for: use of proceeds, process for project evaluation, management of...

Natalie Cohen with Wells Fargo Securities explores municipal bond insurance from its inception to the recent decline. Cohen covers influential historic trends and looks at the renewed focus and opportunities offered by rising interest rates.

Caren Franzini discusses the benefits of tax-exempt bond finance and explores varied case studies to illustrate their structures.

Fitch Ratings says that it is possible for the ratings of an infrastructure project under construction to exceed that of the contractor building it up by two categories. Projects using established technology, where the base cost budget and schedule...

Sidley Austin produced this excellent primer for entities interested in accessing the U.S. capital markets. This resource provides an overview of securities regulations and laws, the offering process, compliance obligations, exempt offerings, a...

The Clean Energy + Bond Finance Initiative crafted an 'Anatomy of the Deal' document to highlight the main aspects of the NYSERDA Energy Efficiency Bond project and provide a comprehensive list of resources.

This proposal from a team of Canadian researchers outlines a framework to fill a massive infrastructure funding gap that governments are dealing with across the globe. Based on the general P3 financing model, the proposal offers a variety of public...

In August 2012, Goldman Sachs Bank’s Urban Investment Group (UIG) announced the first social impact bond (SIB) in the United States, a $9.6M loan it would make to support the delivery of therapeutic services to teenagers incarcerated on Rikers...

The Clean Energy + Bond Finance Initiative released this report detailing how states and cities are using bonds and other existing tools to finance clean energy development. The report explores state and city examples of new financial structures,...

Daniel McRae of Seyfarth Shaw provides information on the resources which are available for energy projects throughout the country including bonds, tax credits, public-private partnerships, EB-5, and much more. McRae explains the benefits of...

Cheryl Strickland of Stifel, Nicolaus & Company, Inc. presents information on market and economic trends in Georgia as well as the national municipal bond market and the role that bonds play in development finance.

Blake Sharpton of Peck, Shaffer & Williams LLP provides an overview of bonds, tax allocation districts (TADs), and special district finance. Sharpton also describes the importance of repayment revenue sources and the bond financing process.

Maceo Rogers from the Development Authority of Fulton County discusses how bonds have been utilized in Fulton County, Georgia to address the sharp decline of the real estate market.

Orrick, Herrington & Sutcliffe published this guidebook for general informational purposes concerning water and wastewater utilities. The purpose of the guidebook is to provide an overview of issues relating to the financing of these projects, more...

Bert Hunter with Connecticut's Clean Energy Finance and Investment Authority shared information about the Authority including strategy, state impact, national clean energy financing trends, deal structures, and more.

Michael Paparian with California Pollution Control Financing Authority shares financing innovations CPCFA has in place to incorporate as many tools as possible in order to maximize clean energy investments throughout California.

Jeff Pitkin with New York State Energy Research and Development Authority discussed New York's ongoing efforts to support clean energy investment. Pitkin also describes the organization's approach when using different finance tools.

This Clean Energy Financing Policy Brief from Lawrence Berkeley National Laboratory is a short and simple document that addresses various complex issues such as bond default, how property assessment acceleration works, protecting mortgage holders,...

The Clean Energy + Bond Finance Initiative created this recommended financing model factsheet for clean energy development. The 'Morris Model' leverages bond finance and other tools to achieve relatively low-cost capital for renewable energy...

Baird Brown with DrinkerBiddle presents to the Task Force on Clean Energy Bond Finance explaining bond financing mechanics for sustainable energy projects.