Blue Rose Advisors Blog
Keeping Traditions in 2020
There has been very little normalcy in calendar year 2020. We as a country, our communities, and each of us individually have taken on challenges over the last 10 months that we couldn’t have imagined prior to this year
Basis Points: LIBOR / SOFR Update
Since Blue Rose’s last update on the transition from LIBOR to SOFR the ARRC continues to push forward in meeting milestones laid out in its paced transition plan
Blue Rose’s James McNulty, promoted to Managing Director
Mr. McNulty specializes in providing lead advisory services and financial analysis for higher education institution financings. In addition, he advises issuers through data-centric analysis including debt capacity and credit analysis
The Shield: Fixed or Variable? A Recent Fed Policy Change Requires Further Consideration
Borrowers of long-term debt are always faced with this question: should we borrow on a fixed rate or a variable rate basis?
Blue Rose’s Georgina Walleshauser, promoted to Associate
In her new role of Associate, she will utilize her experience as a Quantitative Analyst in a more client-facing role, while still performing much of the analysis utilized in this capacity
Blue Rose’s Justin Krieg promoted to Senior Vice President
Justin Krieg provides financial and economic consulting services to the firm’s clients
The Shield: Main Street Lending Program
Effective July 17, 2020, through September 30, 2020, Nonprofit entities can obtain federal loan dollars through two different Main Street Lending Program facilities (NONLF [1], & NOELF [2])
Hedging Treasuries in an Uncertain Market
Many higher education institutions and other borrowers in the municipal market are enticed by the low interest rates that are being reported in the press
Realizing the Benefit of an Existing Escrow Through a Tender Offer
There continues to be a disparity in the current market between pre-refunded municipal bonds and Treasury securities
Blue Rose’s Max Wilkinson, promoted to Associate
Mr. Wilkinson provides in-depth modeling, research, and analytics in support of the delivery of capital planning, debt and derivatives advisory, and reinvestment services to our clients
The NEIU Social Justice Leadership Housing Award
The social unrest across our nation prompted me to re-examine our companies’ hiring practices and general opportunities within the framework of social justice
The Perks of Hiring an Escrow Advisor
It is typical for issuers with an upcoming refunding transaction to engage an escrow bidding agent
June 2020 Municipal Market Update
Blue Rose has begun publishing weekly “Special Editions” of The Shield to address key municipal market topics as they develop
Developing Story: Favorable Tax Policy Changes Potentially on the Horizon
Last week, a bill entitled The Moving Forward Act was proposed in the U.S. House of Representatives that addresses many infrastructure needs of our country
Credit Rating Factors in a Post-Pandemic World
In the 90-plus days since COVID-19 interrupted the 2020 Spring term in an historically unprecedented fashion, the credit rating agencies have moved quickly to measure the pandemic’s immediate and prospective impact upon higher education institutions across the country
Debt Restructuring Alternatives – Additional Tools in the Toolbox
It is evident that issuers and borrowers across the public finance sector – from States and State agencies to municipalities, from higher education to healthcare and other non-profit organizations – are working diligently to establish new budgets for the upcoming fiscal year
Budgetary Relief with Interest Rate Swaps
As a result of the economic slowdown caused by the COVID-19 pandemic, many budgets are strained and borrowers continue to look for ways to conserve cash as a way to increase their liquidity
Restructuring Escrows with Pre-Refunded Municipal Securities
The Treasury securities held in escrows that were bid in recent years have likely appreciated substantially in value due changes in interest rates, and we are seeing that dealers are willing and often eager to buy back these securities
Basis Risk Between SIFMA and LIBOR in the Current Market
Many issuers with outstanding variable rate demand bonds (“VRDBs”) have been closely tracking the SIFMA index in recent weeks, due to increased market volatility
The Shield – April Edition
Tax-exempt capital market behaviors consistent with an early April snowstorm
Take Action Now for Money Available Under the CARES Act
Paycheck Protection Program—Available to Institutions With Less Than 500 Employees
Helping Institutions Keep an Eye on the Medium- and Long-Term Implications of the COVID-19
The current COVID-19 health pandemic is creating tremendous concern for the higher education sector: Moody’s has downgraded the sector to a “negative” outlook, S&P has revised their outlook on privatized/P3 higher education housing deals to “negative,” and each day there are articles discussing the near-term impact of the coronavirus
The Shield: A Special Market Update Edition
Interest rates have never been lower
GICs: What’s the Trade-off?
tilizing a GIC as opposed to a Repurchase Agreement (“Repo”) for the reinvestment of bond proceeds can result in a higher yield of approximately 25 basis points, depending on the balance invested, the time period for which the balance is invested, and the type of collateral that is eligible under a Repo agreement
Money Market Funds vs. Laddered Portfolios Part 1: Market Expectations
A money-market fund offers a short-term variable rate that, in the current inverted yield curve environment, is often higher than the long-term fixed rate offered by a laddered portfolio investment
Laura Klingelhutz Joins Blue Rose as Marketing Coordinator
Blue Rose Capital Advisors – Holiday Event 2023
An Introduction to Our Outstanding Additional Advisory Services
Basis Points – Reinvest Market Update November 2023
Benefits of Positive Arbitrage
The Shield – Third Quarter Market Update
Reinvest Market Update – Basis Points
Blue Rose Capital Advisors Annual Meeting 2023
The Shield – Final LIBOR Transition Update
