BEGIN:VCALENDAR VERSION:2.0 PRODID:-//jEvents 2.0 for Joomla//EN CALSCALE:GREGORIAN METHOD:PUBLISH BEGIN:VTIMEZONE TZID:America/New_York X-LIC-LOCATION:America/New_York BEGIN:DAYLIGHT TZOFFSETFROM:-0500 TZOFFSETTO:-0400 TZNAME:EDT DTSTART:19700308T020000 RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=2SU END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:-0400 TZOFFSETTO:-0500 TZNAME:EST DTSTART:19701101T020000 RRULE:FREQ=YEARLY;BYMONTH=11;BYDAY=1SU END:STANDARD END:VTIMEZONE BEGIN:VEVENT UID:fbc1f5ad65be8def66505bc97f703cd1119 CATEGORIES:Events SUMMARY:Panel and Zoom Discussion: Trends and Challenges in Charter School Bond Financings DESCRIPTION:
Date: T
hursday, February 16, 2023 Details: A panel discussion on tax-exempt bon
d financing for charter schools, with a particular focus on distressed and
workout situations. Panel participants are capital markets experts, includi
ng charter school bond purchasers, attorneys, and rating agency analysts. W
e will discuss typical terms of charter school bond financings, recent issu
ance volumes and characteristics, and bond security structures & covena
nts. We will also consider challenges faced by charter school investors, es
pecially in the non-rated and high-yield end of the rating spectrum. Carl McCarthy has a diverse practice a
s part of Greenberg Traurig’s national public finance team. He splits his t
ime between New York and Orlando. He represents bond purchasers, underwrite
rs, bond trustees and credit enhancers on offerings of municipal securities
and other public finance debt, typically non-rated. He has worked on more
than 100 securities offerings, with recent sector focus that includes green
energy and recycling projects, student housing, higher education, multifam
ily affordable housing and charter schools. He also regularly advises bondh
olders on restructuring strategies in non-bankruptcy settings through remed
iation, workouts, and liability management exercises. Prior to joinin
g Greenberg Traurig, Carl served as general counsel of ACA Financial Guaran
ty Corporation, a monoline bond insurer operating in runoff, gaining deep e
xperience in creditor direction of indenture trustees when exercising remed
ies. He led legal work relating to the company's $7.3 billion portfolio of
revenue bond credits, with a focus on workouts and remediation of distresse
d transactions, as well as discounted bond-buyback programs and other liabi
lity management exercises. He holds a bachelor’s degree from Brown Universi
ty and a law degree from the University of Pennsylvania. Prior to joining Rosemawr as a Director in February 2016, Mr
. Klempner spent six years as a research analyst in the Municipal Bond Grou
p of Lord Abbett & Co. During his tenure at Lord Abbett, Mr. Klempner w
as the primary analyst covering senior living, Puerto Rico, land districts,
gaming, tribal, hotels, multi-family housing, single-family housing state
and local governments, tax backed securities, and water and sewer systems a
nd was back up analyst for hospitals, transportation and higher education.
Mr. Klempner began his career in public finance as a credit analyst at Mood
y’s Investors Service where he covered local government issuers for two yea
rs. Prior to Moody’s, he worked as an Analyst at the New York City Office o
f Management and Budget’s Tax Policy and Revenue Forecasting Task Force. Education: B.A., University of Michigan; M.G.A., University of Pennsylv
ania; and M.B.A, New York University. Thomas Longino is t
he founder of Longino Public Finance, LLC, a law firm focused on representi
ng investors and trustees in connection with high-yield or distressed finan
cings, whether taxable or tax-exempt. Thomas regularly represents mutual f
unds, corporate trustees and other investment vehicles that invest in the h
igh-yield arena, primarily as purchaser’s counsel, trustee’s counsel or bon
dholders’ counsel in new financings, workouts and related matters and restr
ucturings of existing financings. Recent sector experience includes charte
r schools, higher education, project finance and senior living. Thomas als
o has experience with SEC-imposed and trustee-imposed receiverships. Prior
to forming Longino Public Finance, Thomas practiced law in the area of mun
icipal finance at a large southeastern law firm, mostly as bond counsel and
underwriter’s counsel, where he gained valuable workout and municipal bank
ruptcy experience as a member of the team representing Jefferson County, Al
abama. Thomas completed his undergraduate education at Vanderbilt Un
iversity, earned his law degree at the University of Mississippi and obtain
ed a Masters of Laws in Taxation from New York University. Sh
ivani Singh, Director and Lead Analyst, NY, S&P Global Ratings Shivani is a Director and Analytical Team Lead within the U.S.
Public Finance team at S&P Global Ratings. She has expertise reviewing
credit ratings for debt instruments (revenue and/or tax-secured) issued by
charter schools, community colleges, and independent schools. Her portfoli
o also includes public and private colleges/ universities, 501(c)(3) instit
utions, and off-balance sheet housing projects in the United States. Previo
usly, Shivani worked in the Not-For-Profit Healthcare Group at S&P Glob
al Ratings with analytical responsibility for rating a portfolio of not-for
-profit acute-care and long-term care credits in the United States. She joi
ned S&P in March 2010. Previously, Shivani was a Senior Budget An
alyst at the NYC Office of Management and Budget. Her core job duties inclu
ded preparing, analyzing and monitoring the annual and ten-year capital bud
gets of the city’s two key health agencies, the NYC Health and Hospitals Co
rporation (the largest municipal healthcare system in the United States) an
d NYC Department of Health and Mental Hygiene. Before graduate school, she
worked for two years as a Senior Credit Analyst at General Electric’s Consu
mer Finance division in India. Shivani holds a Master of Public Admin
istration (core concentration in finance) with top honors from Cornell Univ
ersity, and a Bachelors of Arts (honors) in Economics and Mathematics from
the University of Delhi. She is a CFA®, CAIA ® and FRM ® charter holder. Press: Press is allowed but must confer with speakers
before using a quote. Cost: MAGNY and
other NFMA Members Participants attending in person will receive additional information prior
to the meeting about current COVID protocols in place at the NYC Bar Assoc
iation. As of now, vaccination will not be required and masks are welcome b
ut not required. The room will be significantly below capacity to allow for
distancing if preferred. No in-person cancellations after February 9 altho
ugh another guest can attend in your place. Registration
: Questions?
Contact programchair@magny.org.
Times:
Zoom Meeting Time: 12:30 - 1:30 pm ET
Locations:
Zoom webinar OR
New York City Bar Association, 42 West 44th Street, NYC<
/p>
<
br />Moderator:
Carl McCarthy, Of Counsel, G
reenberg Traurig, LLP
Seth Klempner, Director, Rosemawr<
/strong>
Thomas Longino, F
ounder, Longino Public Finance LLC
$55 Zoom
$75 In-Person
Non-Members
$80 Zoom
$100 In-Person