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CDFA - PFM Capital Markets Webinar Series
June 4, July 9, August 20, October 22, November 19, December 17

-Overview

CDFA is proud to partner once again with PFM to host a six-part webinar series on current events and latest trends in the capital markets. This year’s CDFA – PFM Capital Markets Webinar Series will offer in-depth, market-driven discussions about bond financing and will provide insights about mitigating risk, regulatory matters, strategies for investing bond proceeds, monitoring ongoing and continuing disclosure, and predictions for the future of the capital markets.

The Webinar Series will feature the industry’s top leaders discussing challenges, opportunities, critical issues, and case studies in today’s capital markets. Topics covered include current market insights, understanding the regulatory environment, using bonds in complex capital stacks, bond ratings, and bond guarantees. Participants are encouraged to bring their questions and financing challenges related to bonds and the capital markets. Webinars will be recorded and made available to all registered participants.

Register

-Agenda

Thursday, June 4, 2020

Thu 3:00 PM - 4:30 PM
Impacts of COVID-19 on the Bond Market
The capital markets have been on a roller-coaster trajectory as state and local governments face liquidity challenges and communities struggle with the dual threat of declining tax revenues and increased expenses to address their public health needs. Meanwhile, the Federal Reserve has created the Main Street Lending Program, created several new facilities to shore up the market, and announced it would buy state and local muni bonds for the first time. All of this activity has caused significant uncertainty and many issuers report difficulty getting bond deals priced. During the first installment of the CDFA-PFM Capital Markets Webinar Series, we will focus on the market impacts of COVID-19 thus far and what we can expect going forward.
Moderator(s)
Speaker(s)

Thursday, July 9, 2020

Thu 2:00 PM - 3:30 PM
What Worries Your Municipal Advisor
Back by popular demand! If you could attend one of their staff meetings, you might hear municipal advisors debating about market stability, smartest choices for reinvesting bond proceeds, evaluating strength of the local tax base, how many different financing tools can you leverage into one deal. 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 will feature a round robin of advisors divulging the capital markets trends they’re following and offer some best practices on how to deal with them.
Moderator(s)
  • Malcolm Guy, Coordinator, Government & External Affairs, Council of Development Finance Agencies
  • Bethany Pugh, Managing Director, PFM
Speaker(s)

Thursday, August 20, 2020

Thu 2:00 PM - 3:30 PM
Today’s Bond Regulatory Environment
Understanding regulatory rules and changes is essential to navigating today’s capital markets. Municipal advisors are watching upcoming changes to the Community Reinvestment Act, rule amendments proposed by the SEC, temporary guidance from the IRS on Private Activity Bonds. These days, the capital markets are a flurry of regulatory changes, so remaining compliant in all areas from main regulatory bodies can be extra challenging. During this installment of the CDFA-PFM Capital Markets Webinar Series, experts will analyze how recent regulatory actions will impact how banks buy bonds and how deals are priced.
Moderator(s)
Speaker(s)
  • Leo Karwejna, Chief Compliance Officer, PFM
  • Saliha Olgun, Director of Market Regulation, Municipal Securities Rulemaking Board
  • Rebecca Olsen, Director, Office of Municipal Securities, U.S. Securities and Exchange Commission

Thursday, October 22, 2020

Thu 2:00 PM - 3:30 PM
Pricing Private Activity Bonds in Complex Capital Stacks
Local governments and developers often need to make use of every tool available in their development finance toolbox to make a project pencil out. Bonds and other debt tools are often essential in a capital stack with equity from tax credits or Opportunity Funds. Plus, fees and interest rates often determine which tools work in different places and different projects. We will share innovative thinking on how issuers can structure their fees, evaluate volume and the types of bonds most often used in larger projects, and look at how high-performing development finance agencies assist in financing projects at all levels. During this installment of the CDFA-PFM Capital Markets Webinar Series, project finance experts and issuers will discuss the viability of how private activity bond deals can fit into complex capital stacks.
Moderator(s)
Speaker(s)
  • Michael Graff, Partner, McGuireWoods LLP
  • Harry Huntley, Executive Director, South Carolina Jobs Economic Development Authority
  • John Wooten, Head of Municipal Placements, Wells Fargo Securities

Thursday, November 19, 2020

Thu 2:00 PM - 3:30 PM
An Advanced Discussion on Ratings
Recent economic shocks have weakened the credit quality of state and local governments, issuers, and deals, bringing about an uncertain future for projects across the country. Ratings always affect project finance outlooks, and determining when or if you need a rating is especially critical during times of crisis. What do cities, states, and conduit issuers need to know about credit risk in today’s municipal bond market and what are the key factors to know when seeking a credit rating? Attendees will also hear the perspectives of the ratings agencies on the current legislative and regulatory environment. During this installment of the CDFA-PFM Capital Markets Webinar Series, we will gather experts from the leading rating agencies for a timely discussion on ratings, long-term outlooks, and how municipal advisors determine the importance of rating deals.
Moderator(s)
Speaker(s)

Thursday, December 17, 2020

Thu 2:00 PM - 3:30 PM
Mitigating Default Risk with Bond Guarantee Programs
No one wants a default, but everyone needs to prepare for it. It can be advantageous to have some safety backing a deal through a letter of credit, guarantee, reserve fund, or joint partnership. These types of arrangements bring strength or stability to deal that are often attractive to investors. How do bond guarantee programs work, how much do they cost, can today’s market support new guarantee programs, who is willing to help mitigate default risk? During the final installment of this year’s CDFA-PFM Capital Markets Webinar Series, let’s talk about bond guarantee programs and how they can be a solution for long-term recovery.

-Location

The CDFA – PFM Capital Markets Webinar Series will take place on the web through GoToWebinar, an online distance learning software. The webinars will take place on June 4, July 9, August 20, October 8, November 19, & December 17, 2020. You must have access to a computer and phone to attend the webinars.

Webinars will be recorded and placed online for participants to access afterwards. Attendees who miss a webinar will have access to the online recordings as well.

-Registration

Registration for the CDFA – PFM Capital Markets Webinar Series is free for CDFA members and for non-members.

To register for the CDFA – PFM Capital Markets Webinar Series, click on the Register button below.
Standard Rates
CDFA Member: $0
Non-Member: $0


Register