Blue Rose Advisors Blog

Taxable Advance Refunding Transactions

Taxable Advance Refunding Transactions

Given the elimination of tax-exempt advance refundings as a result of the 2017 tax reform act and the precipitous decline in interest rates over the past few months, many borrowers are finding that a taxable advance refunding achieves their savings goals and may even be preferable by potentially eliminating tax compliance concerns

Total Return Swaps

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