Blue Rose Advisors Blog
Total Return Swaps
Total return swaps issued in combination with long term fixed rate notes or 20-year fixed rate debt are a viable alternative for tax-exempt issuers that typically issue Direct Purchase Bonds or Variable Rate Demand Obligations as a source of capital funding
As Rates Continue to Fall, Taxable Advance Refundings Emerge as Potential Savings Opportunities
With the passage of tax reform in late 2017, refinancing opportunities for municipal borrowers took a significant hit due to the elimination of tax-exempt advance refundings
FY2018 Rating Medians are Out: Credit Analysts Report Similar Trends Within Higher Education
Most of the S&P, Moody’s, and Fitch-rated colleges and universities that are included in the FY2018 median reports fall within the ‘AA’ and ‘A’ rated categories
July Budget Agreement Could Reopen SLGS Window
While there has since been some speculation that the White House will continue its support of the agreement, it would offer a solution for spending considerations
Blue Rose’s Brandon Lippold, promoted to Associate
Blue Rose Capital Advisors is pleased to announce the promotion of Brandon Lippold to Associate. Brandon’s commitment to serving our clients is incredible and we commend his efforts
Blue Rose’s Georgina Walleshauser promoted to Analyst
Since joining Blue Rose, Georgina has played a key role in supporting our advisory team and advancing the Blue Rose mission
June 2019 Municipal Market Update
The objective of this update is to provide insight into key municipal market developments that have occurred since the start of 2019
June 2019 Capitalizing on a Flat Yield Curve: Floating Rate Guaranteed Investment Contracts
The shape of the yield curve in the current market continues to remain relatively flat, with minimal differences between short-term rates and long-term rates compared to historical levels
Market Update on Public Private Partnerships in Higher Education
Public-Private Partnerships (P3s) in higher education continue to grow across several dimensions, including services/assets where the P3 approach is applied and evolution of different payment models
Negative Arbitrage in Project Funds
We recently completed a reinvest transaction for a Blue Rose client who had a rather short-dated project fund, with a final draw date approximately seven months after the settlement of the bonds
Recapturing Inefficiencies in Escrows
Every month, U.S. Treasury securities are auctioned to determine their appropriate yield
Changes to Rule 15c2-12 and Their Effect on Issuers’ Continuing Disclosure Requirements
Rule 15c2-12 requires underwriters of municipal securities to determine that issuers and obligated persons have entered into an agreement to provide continuing disclosure information to the MSRB on an ongoing basis
An Update on the Transition from LIBOR to SOFR
Fallback language in new and existing LIBOR contracts is a primary concern and dilemma that both the ARRC and ISDA began to address last year and plan to provide official guidance for in the coming months
SLGS Window to Close in March
To create room for ongoing funding of government operations, the U.S. Treasury typically takes so called “extraordinary measures” to create room for debt under the debt ceiling. Included in these measures is suspending the sale of State and Local Government Securities (SLGS)
The Shape of the Current Yield Curve – Historical Context and Potential Market Opportunities
Essentially, while the “normal” shape of the yield curve has historically been positively/upward sloping (with short-term rates lower than long-term rates), the magnitude of this slope has been shrinking significantly
30-year Industry Veteran Sam Gruer Joins Blue Rose Capital Advisors
Blue Rose Capital Advisors, a Municipal Advisor for higher education and non-profit institutions, is pleased to announce that Sam Gruer has joined the firm as Managing Director after Blue Rose acquired the assets of Cityview Capital Solutions, LLC. He will provide advisory services to clients from the firm’s newly established New Jersey office
Justin Krieg Joins Blue Rose Affiliate MuniPriceTracker as Vice President
Blue Rose Capital Advisors, a Municipal Advisor for higher education and non-profit institutions, is pleased to announce that Justin Krieg has joined the Minneapolis office as Vice President at MuniPriceTracker (“MPT”)
Blue Rose Capital Advisors and John S. Vincent & Company Merge
Blue Rose Capital Advisors and John S. Vincent & Company have merged effective December 30, 2014, creating a stronger financial advisory firm for higher education institutions
The SLGS Window is Closed…Now What?
With the SLGS window currently closed and expected to remain so for several more months, issuers of current refunding transactions should consider using open market securities escrows
The Shield: End of Summer Market Update
Julia Cain Joins Blue Rose Capital Advisors as an Analyst
Richa Sharma Joins Blue Rose Capital Advisors as an Analyst
Understanding Private Activity Bonds in the World of Municipal Bonds
In the Midst of Ongoing Market Volatility, Find Certainty with Fixed Rate Reinvestment
The Shield – Leveraging Debt for Campus Improvement
Interest Rate Swaps: An Effective Risk Management Tool
Looming Uncertainty for the Higher Education Sector at the Dawn of the Second Trump Administration
Series 50 and Series 54: The Path to Becoming a Municipal Advisor
