The Smart Way to Decide What to Issue and When to Refund

Following up on his presentation on Options When Managing Debt at last October’s 2013 NAMA conference, Dr. Kalotay will demonstrate a new Excel-based tool Refunding+. The calculator puts smart technology in the hands of advisors, enabling them to independently evaluate funding and refunding proposals.


Identify the new issue structure with the best value (e.g. 5% or par coupons, non-call 10 or non-call 8)


Recommend refundings only when they meet a Refunding Efficiency threshold (based on savings and option values, and taking into account negative arbitrage)


Rank candidates by desired criterion


The highest professional standards require that public finance advisors have a command of option-based bond analysis.  This webinar will provide some new insights and tools.

Please join this webinar on Thursday, May 8, 2014 at 11:00 am Eastern, 10:00 am Central, 9:00 Mountain, and 8:00 Pacific time.  Lori Raineri, CIPMA, will be moderating.

RSVP here.