Laurence Wadler

This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.

All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.

This course will focus on the issuance and management of debt by state and local governments as well as nonprofit institutions. The course will serve as an overview of how municipal and nonprofit borrowers access the capital markets, primarily through the issuance of tax-exempt bonds. Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Discussion and assignments will explore historical events in this niche market that have shaped the current approach to debt management for municipal and nonprofit institutions, investor sentiment and regulatory changes. Students will become familiar with related financial analyses including calculations for debt service, credit metrics and financial covenant compliance.

The assignments and exams will feature quantitative exercises that require proficiency with accounting concepts, financial math, budgeting models and Microsoft Excel applications.

This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.

All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.

This course will focus on the issuance and management of debt by state and local governments as well as nonprofit institutions. The course will serve as an overview of how municipal and nonprofit borrowers access the capital markets, primarily through the issuance of tax-exempt bonds. Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Discussion and assignments will explore historical events in this niche market that have shaped the current approach to debt management for municipal and nonprofit institutions, investor sentiment and regulatory changes. Students will become familiar with related financial analyses including calculations for debt service, credit metrics and financial covenant compliance.

The assignments and exams will feature quantitative exercises that require proficiency with accounting concepts, financial math, budgeting models and Microsoft Excel applications.

This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.

All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.