TITLE

Alabama Forum Aims to Clue Issuers In to the Benefits of Swaps

AUTHOR(S)
Sigo, Shelly
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/2/2003, Vol. 344 Issue 31627, p28
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Flexibility offered by interest-rate swaps have motivated finance professionals like Matthew Roggenburg, a managing director at J.P. Morgan Securities Inc., and Douglas Goldberg, a senior vice president at CDR Financial Products, to attend conferences like Investor Relations Forum in Jefferson County, Alabama in May 2003. Interest-rate swaps are flexible and easily restructured, but relatively few municipal issuers take advantage of the derivatives that could save them as much as 90 basis points on a deal. According to Roggenberg, forums and conferences are helping to advance education about derivative products such as swaps, which developed a negative connotation in the corporate sector in the mid-1990s and still are misunderstood. According to Goldberg, the reason for a wide range in the estimated amount of outstanding municipal swaps is poor reporting in the past.
ACCESSION #
9740723

 

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