City of Hope received approval Tuesday from the Illinois Finance Authority to refund up to $650 million of bonds sold last year to refinance a taxable bridge loan for its purchase of Cancer Treatment Centers of America facilities in Illinois, Arizona, and Georgia. The refunding was among $1.3 billion in conduit financings approved by the
Bonds
Municipal advisors will gain a bit of career flexibility under rule amendments the Securities and Exchange Commission approved Tuesday. The SEC approved the Municipal Securities Rulemaking Board’s amendments to Rule G-3 on professional qualification requirements in addition to related changes to Rule G-8 on books and records. The amendments create a new criteria-based exemption that
“Having a chance to talk directly about what we’re doing and why we’re doing it, it’s reinforcing, in a way,” said Claude Lockhart Jr.Claude Lockhart Jr. Title: DirectorFirm: StifelAge: 31 Claude Lockhart Jr. lines his desk with “souvenirs” from bond projects he’s worked on. Letters and thank you notes, gifts and plaques from cities that
“As a credit analyst in healthcare, I have a front row seat for a sector undergoing immense pressure and change, a sector that affects all levels of our society at both a macro level and a deeply personal level,” Patrick Zagar said. Title: DirectorFirm: S&P Global RatingsAge: 32 Patrick Zagar has been with S&P Global
“I like the complexity of the transactions that we help bring to life and to see how those transactions positively further the missions of the nonprofits,” said Gretchen Sherwood. Title: CounselFirm: Nixon Peabody LLPAge: 35 Gretchen Sherwood has developed Nixon Peabody’s charter school finance practice into a nationally respected program while maintaining excellent relations with
“The current challenge has been keeping the ‘affordable’ in affordable housing,” said Steve Scharff. Title: Senior ManagerFirm: Baker Tilly Municipal AdvisorsAge: 32 Steve Scharff has been in his current position with Baker Tilly for about two years but has been working in the financial world since 2015. What Steve offers to the firm’s clients is
The North Carolina Local Government Commission approved more than $1 billion in bond requests from the cities of Charlotte and Durham on Tuesday while returning financial control to the town of Robersonville. Charlotte submitted two requests, one for airport projects and another for improvements at the Spectrum Center arena. The LGC approved Charlotte’s request to
“One of the things that my parents said to me early on in my life is, ‘If you have the will to do something, you can make it happen,'” Prachi Chandhok said. Title: Head of product, ESG dataFirm: KestrelAge: 34 Prachi Chandhok ended up in municipal finance by chance but attributes her success to her parents. Growing up
“This market on a daily basis gives me the opportunity to continue to learn, challenges me to think about things differently and navigate an ever-changing environment,” said Morgan Fahy. Title: Vice President, Capital MarketsFirm: Build America MutualAge: 32 During a two-year analytics program at Citigroup Global Markets, Morgan Fahy found her love for munis, noting that she liked
Correction <ins data-user-label=”Rich Saskal” data-time=”09/13/2023 1:01:59 PM” data-user-id=”0000015b-3447-d3db-af7b-355783bb0000″ data-target-id=””>Before joining Stern Brothers, Livingston worked at </ins><del data-user-label=”Rich Saskal” data-time=”09/13/2023 1:01:59 PM” data-user-id=”0000015b-3447-d3db-af7b-355783bb0000″ data-target-id=””> </del>Backstrom McCarley Berry & Co. and Blaylock Van, LLC.<ins data-user-label=”Rich Saskal” data-time=”09/13/2023 1:01:59 PM” data-user-id=”0000015b-3447-d3db-af7b-355783bb0000″ data-target-id=””> The listed firms were incorrect in the original version of this story.</ins> September 13, 2023 3:56 PM EDT Correction
“I’ve always been interested in the fiscal health of a city or county, it goes to the health of the people really,” Rob Widigan said. Title: Deputy chief financial officer Firm: Wayne County, MichiganAge: 33 Rob Widigan, deputy chief financial officer of Wayne County, Michigan, has a history of helping to build fiscally stable communities across his state. Rob
“We do different stuff for school districts than we do for anybody else,” said Mattie Prodanovic. Title: Senior Vice PresidentFirm: HilltopSecuritiesAge: 33 Having the right professor at the right time can make all the difference. Mattie Prodanovic enrolled at the Harris School of Public Policy at the University of Chicago thinking the public policy master’s degree she earned
“My goal, whether I was in muni finance or any other part of the investment management industry, was to support females and help them advance,” Regina Gaysina said. Title: DirectorFirm: RBC Capital MarketsAge: 34 Regina Gaysina is the most active K-12 municipal financial advisor in New Mexico — and the only woman in her role
“I really value individuals who come from non-traditional backgrounds, who bring with them a different skill set and a different experience,” Ashlee Gabrysch said. Title: Director, Regional ManagerFirm: Fitch RatingsAge: 39 As Ashlee Gabrysch wrapped up her bachelor’s degree in interdisciplinary Slavic studies at the University of Chicago, she realized she might need to change
“I like rolling my sleeves up, looking at the numbers, figuring out the story in my head, as I’m reading everything,” Matthew Shapiro said. Title: DirectorFirm: Assured GuarantyAge: 35 The challenge of covering healthcare and higher education credits has never scared Matthew Shapiro. “I like rolling my sleeves up, looking at the numbers, figuring out
“I love that every deal is a little different and there is something to be learned from each one,” said Stephanie Kim. Title: Of Counsel Firm: Ballard Spahr LLPAge: 36 Stephanie Kim packs a full legal toolbox for her role as of counsel in the Washington, D.C., office of Ballard Spahr. Since moving from the Atlanta
Orrick, Herrington & Sutcliffe LLP Managing Associate Joshua Bonney calls his work at Orrick “a match made in heaven.”© Gittings Photography Title: Managing AssociateFirm: Orrick, Herrington & Sutcliffe LLPAge: 33 Early in his career, Joshua Bonney, a managing associate at Orrick, Herrington & Sutcliffe LLP, has already worked with some of the municipal bond market’s
Municipals were mixed in secondary trading Tuesday amid an active primary that saw two large airport deals from Dallas-Fort Worth and Atlanta price. U.S. Treasuries were also mixed, and equities sold off. The two-year muni-to-Treasury ratio Tuesday was at 63%, the three-year at 63%, the five-year at 63%, the 10-year at 65% and the 30-year
The Federal Emergency Management Agency’s response to the wildfires that took the Hawaiian island of Maui by storm will likely add pressure to negotiations to replenish its already dwindling Disaster Relief Fund, which will be a major focus when Congress returns from recess Sept. 5. The wildfires that destroyed at least 20 square miles, 13,000
Puerto Rico’s local government received another strike against its efforts to change its labor laws after the U.S. Court of Appeals for the First Circuit Thursday ruled the U.S. District Court for Puerto Rico in March was correct in upholding the Oversight Board’s right to reject a 2022 labor law. The law, Act 41, did
The top two municipal bond insurers wrapped $15.571 billion in the first half of 2023, a 12% decrease from the $17.689 billion of deals done in the first half of 2022, according to Refinitiv data. Market demand for bond insurance increased quarter-over-quarter, up 72% in the second quarter of 2023. Total insured penetration for Q2