Bond Basics 101


Wednesday, November 7: 10:45am – 12:00pm

Attend this session to learn everything you wanted to know about the basics of bond deals! This panel will focus on how to structure bond deals, discuss current trends and issues in structuring bond deals, and review sample transactions of recent bond deals.


Session Materials:

Bond Basics 101 Presentations (2.01 MB Adobe PDF File)


Room Number:

A216


Moderator:

Joseph (Joey) Hague, Red Capital Markets, LLC
Joseph R. Hague, IV, Red Capital Markets, LLC Mr. Hague joined Red Capital Markets, LLC in January 2007. Mr. Hague specializes in structuring tax-exempt, FHA, and Fannie Mae debt financings for affordable housing transactions. Mr. Hague has worked with and advised local housing authorities, non-profit developers and for-profit housing developers on capital structures and financings. Prior to joining RED, Mr. Hague worked as a Financial Analyst in National City's Commercial Banking Development Program. He received his Bachelor of Business Administration Degree from Ohio University where he majored in Accounting and Finance.


Speakers:

Bob Labes, Squire Patton Boggs (US) LLP
Bob Labes (University of Michigan, J.D., cum laude, Order of the Coif, 1988, B.A., with high distinction, 1985). Bob Labes' practice focuses on serving as counsel on complex real estate financing transactions, often by public bodies for the benefit of private entities, primarily in the areas of multifamily housing, healthcare facilities and other nonprofit facilities. He has extensive experience working on transactions involving tax-exempt bonds, low-income housing tax credits, new markets tax credits, historic rehabilitation tax credits, and EB-5 financings. He also has extensive experience working on traditional municipal finance transactions representing local governments on financing matters. Bob has been listed in The Best Lawyers in America® since 2008, an honor based on an exhaustive peer-review process, and he has received the highest ranking for legal ability and professional ethics from the Martindale-Hubbell Peer Review Ratings.

Michael R. Sturges, The Sturges Company
The Sturges Company ("TSC") was founded in 1985 to offer investment banking services to developers exclusively for affordable multifamily housing projects. The firm is the longest running investment bank with uninterrupted combinations with other firms or owners/partners providing such services in the country. TSC has closed over 290 affordable multifamily housing tax-exempt bond issues representing over $1.9B of par value of securities. Prior to founding TSC, Mike was one of three original partners in another Columbus Investment Bank for six years that provide similar services. He also served as a Tax Senior specializing in real estate taxation at Deloitte & Touche for four years. Mike holds both a master's degree in real estate & finance and an undergraduate degree in Accounting & Economics from The Ohio State University.

Kent Neumann, Tiber Hudson LLC
Kent Neumann has been an attorney in the affordable housing and healthcare business for over 20 years. Mr. Neumann has served as underwriter's counsel, purchaser's counsel, bond counsel, lender's counsel and borrower's counsel and has also advised issuers and other clients on the legal and financial aspects of a wide range of tax-exempt and taxable financings around the country. These include publicly offered and privately placed financings using credit enhancement provided by FHA, Ginnie Mae (GNMA), Fannie Mae, Freddie Mac, the Federal Home Loan Bank, municipal bond insurance, bank letters of credit, insurance company guaranties, as well as unrated and/or uncredit-enhanced bond deals. Many of these transactions have involved multiple-tier financings utilizing senior/subordinated and other complex structures designed to achieve optimal efficiency and savings. These include "50% test" and cash-collateralized bonds as well as loans from Rural Development and HUD / FHA under various programs including 515, 538, 202, 221, 223, 236, 242, Section 8, HOPE VI, etc. Mr. Neumann has been one of the most innovative attorneys in his field creating and developing many of the financial structured used today in both housing and healthcare industries. Many of these structures have created millions of dollars in savings while simultaneously providing efficiency in the execution. In addition, Mr. Neumann has a unique level of experience in and knowledge of cashflow modeling, rating agency requirements, credit enhancement programs, financial structures and other critical variables affecting bond financings. Mr. Neumann graduated magna cum laude from the University of California, San Diego, where he received a B.A. degree in Psychology in 1995. He graduated magna cum laude from Tulane Law School in May of 1998 and is a member of both the California and the District of Columbia Bars. He is also a member of the American Bar Association and the National Association of Bond Lawyers.

Todd Alexander, Renewal Housing Associates LLC
Todd M. Alexander is a Vice President and Partner at Renewal Housing Associates LLC ("Renewal"), an affordable housing preservation company based in Portland, Maine. Renewal is an affiliate of Leon N. Weiner & Associates Inc, a Delaware-based, fully-integrated real estate development company founded in 1949. Todd has worked as a housing developer since 2003. In the past 15 years, he has help raise more than $300M to develop and preserve more than 2,500 units of affordable housing. Todd is a former Board President for Community Housing of Maine and the Downtown Portland Corporation. Todd received a Master's degree in Urban Planning from Cornell University and a Bachelor's degree from Colby College in Waterville, Maine.