Walk through the concepts of refinancing and restructuring bond debt.
A municipal bond refunding is the refinancing of municipal debt using borrowed amounts from a refunding issue. The benefits of a bond refunding includes achieving cost savings by reduced debt service; freeing up existing cash flows for other purposes by restructuring debt service payments; and eliminating restrictive covenants in the bond documents. Using a case study provided, this video walks through the concepts of refinancing and restructuring bond debt.
Agenda
Faculty
Latrice M. Phillips
Chapman and Cutler LLP
- Partner in Chapman and Cutler LLP's National Public and Health & Education Finance Department
- Has acted as bond counsel, underwriter's counsel, borrower's counsel, disclosure counsel, and issuer's counsel in connection with variable rate and fixed rate general obligation, refunding, and revenue publicly offered and privately placed public activity and municipal bond issues
- Has advised clients regarding post-issuance compliance with both tax-related statutes and regulations and bond document financial covenants
- Recent work includes a $988 million revenue bond issue for the benefit of a multi-state system of hospitals and clinics as disclosure counsel and borrower's counsel, a $95 million revenue bond issue for the benefit of a multisite senior living organization as bond counsel, and two revenue bond issues for the benefit of a health system as underwriter's counsel in the amounts of $124 million and $110 million
- Member of Women in Public Finance, the Municipal Forum of New York, the Association of Black Women Attorneys, the Northeast Women in Public Finance, and serves on the Board of Directors of the Chicago Summer Business Institute
- Prior to joining Chapman in 2014, she practiced in the health care group at Jones Day
- J.D. degree, DePaul University; B.S. degree in finance, DePaul University
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