What Every Debt Issuer Needs to Know About the New Issue Price Regulations

CPE Credits: 
2
Session Time: 
Monday, May 22, 2017 - 10:30am to 12:10pm
Room: 
601-605
Speakers: 
Moderator
Deputy Treasurer - Debt Management
State of Washington
Speaker
President
Ehlers & Associates, Inc.
Speaker
Managing Director, Associate General Counsel
Piper Jaffray
Speaker
Shareholder
Stradling Yocca Carlson & Rauth, P.C.
Field of Study: 
Finance
Description: 

Recently the Treasury and IRS updated rulemaking that changes the way the issue price of a bond is set. These new rules go into effect June 7.  Issuers need to be well aware of how their approach to a transaction and the documents used by underwriters and counsel will change.  Specifically, the rules go from a “reasonable expectation” of bonds sold test to an “actual sales” of bonds test.  There are also special rules for competitive sales that allow for an exemption from the 10% sale test, when there are at least three bids on the bonds. This session will provide participants with an overview of the rulemaking and discuss ways in which issuers should approach bond transactions in a variety of scenarios, both in competitive and negotiated sales.

Agenda: 
Slides: 
Calendar Appointment: