Interest Rate Swaps and Libor Phase-Out Update
This panel updates you on matters of interest rate swaps and current developments and issues. This includes primarily when interest rate swaps are utilized to hedge variable rate indebtedness to a synthetic fixed rate. We discuss issues being commonly focused upon in the negotiation of standard ISDA swap documentation and potential solutions in the market. This includes termination events, events of default, and other provisions. In addition, the panel discusses the implementation of workout stay protocols for interest rate swaps and other derivatives provided by both domestic and non-US swap providers.
The panel updates you on the status of the impending LIBOR phase out in 2021 and industry initiatives to address this issue. This includes the developments among industry groups for various forms of documentary solutions and language regarding events triggering the need for a fallback rate and potential fallback language itself.
Panel Chair: E. Tyler Smith, Parker Poe Adams & Bernstein LLP, Greenville, SC
Readie Callahan, Wells Fargo, San Francisco, CA
Barry M. Rothchild, Nixon Peabody LLP, New York, NY
Jay Saunders, KPM Financial, LLC, Charlotte, NC
Multifamily Housing: Introductory Session
This panel covers the basics of multifamily housing bonds, including applicable tax rules, basic bond structures, and compliance. It also touches on the interplay of the federal low income housing tax credit and bonds. This panel is best for practitioners interested in learning how to do a multifamily housing transaction.
Panel Chair: Faith Li Pettis, Pacifica Law Group LLP, Seattle, WA
Cory G. Kalanick, Sherman & Howard L.L.C, Denver, CO
Keirston R. Woods, Bryant Miller Olive P.A., Washington, DC
Tax Exempt Leasing: Intermediate
This session focuses on common issues arising in connection with the negotiation of tax-exempt lease-purchase and installment purchase agreements on standard bank- or leasing subsidiary-prepared forms. Topics discussed include: the differences in terminology between leasing and bond transactions, expectations of financing sources relating to certain standard provisions (such as interest rate gross-ups, default rates, late payment penalties and the like), approaches to negotiating commonly problematic provisions (such as indemnification), applicability of and approach to compliance with UCC Article 9 and opinion letter issues. This session provides practical input to experienced bond counsel who have infrequent exposure to tax-exempt leases.
Panel Chair: Anne L. Barragar, Davis Wright Tremaine LLP, Portland, OR
Benjamin J. Hall, Key Equipment Finances Inc., Superior, CO
Gregory Im, Drummond Woodsum, Portland, ME
Bradley N. Ruwe, Dinsmore & Shohl LLP, Cincinnati, OH
William G. (Chip) Sturm, Womble Bond Dickenson (US) LLP, Baltimore, MD