An attorney or firm of attorneys engaged to represent the lender in a private placement.
At the Closing, the Lender delivers an Investor Letter to the Issuer, sometimes called a “big boy letter,” certifying that the Lender understands the terms of the transaction, has the expertise to perform its own credit analysis and will not rely on disclosures of the Issuer or others in deciding to purchase the Bonds.
Life’s a Party
Learn more about the various parties involved in a municipal securities transaction and their roles.
The negotiated offering of a new issue of bonds directly to one or a limited number of purchasers without using an underwriter.