A LOOK AHEAD€¦ · KEYNOTE SPEAKER: Frank Luntz, Indepent Pollster 1:30 P.M. Unlocking Value from Public Assets: Success Stories in Public & Private Collaboration Municipal assets

January 31, 2018 | Metropolitan Club, NYC

NATIONAL OUTLOOK CONFERENCE

www.bondbuyer.com/conferences/outlook/

A LOOK AHEAD

www.bondbuyer.com/conference/outlook

Conference Co-Chairs

John PuigManaging DirectorRBC Capital Markets

Howard ZuckerPartnerHawkins Delafield & Wood LLP

Register by January 30 to lock in

New Year’s Savings!

To Register, Contact:Vernesa Merdanovic at (212) 803-8393 or [email protected]





Networking Opportunities8:00 a.m. Morning Coffee

10:00 a.m. Networking Break

12:30 p.m. Luncheon & Keynote

3:30 p.m. Networking Break

5:15 p.m. Networking Reception

What will 2018 hold for the municipal finance market?

At The Bond Buyer’s National Outlook 2018 Conference, experts will offer thoughts on the Fed and bond issuance, and will parse the future of fiscal policy and tax reform as we become informed of the implementation. Is there any momentum remaining for more infrastructure investing? Will new tools become available? Many positive developments must be pursued before the Mid-Term elections.

Since 2011 public sector issuers, investors, investment bankers, financial advisors, rating analysts insurers, attorneys and other finance professionals have gathered at The Bond Buyer’s National Outlook Conference to embrace the opportunities and to craft new strategies for building a thriving fiscal future. Attendees leave the conference armed with the imparted wisdom and shared strategies to advance in today’s municipal finance market.

This timely conference will assess the record for 2017 and will look ahead to the challenges and opportunities awaiting the U.S. municipal market in 2018. Join us for a thought-provoking discussion, and a full slate of networking opportunities that The Bond Buyer Conferences prominently feature like no other venue.

Register online, or contact Vernesa Merdanovic at (212) 803-8393 for more information.

The Future of the Municipal Bond Market

Topics Include:

▪ Trends Shaping Tomorrow’s Market

▪ Tax reform

▪ The Effects of Changing Federal Policies

▪ Infrastructure: How will it be paid for and who should bear the cost?

▪ Economic Forecast

▪ Replacing LIBOR: Technical aspects & market impacts

And much more!




8:00 A.M.Registration Opens

8:30 A.M.WelcomeMichael Ballinger, Publisher, THE BOND BUYER John Puig, Managing Director, RBC CAPITAL MARKETS Howard Zucker, Partner, HAWKINS DELAFIELD & WOOD LLP

8:35 A.M.Buy Side/Sell Side Panel The panel will consider the anticipated changes from Tax Reform, Fed tightening, and program modifications at the federal level. Where to find value on the curve will be explored. How to best position a municipal portfolio for returns going into the year will also be assessed.MODERATOR: Richard Holzinger, Head of Investor Relations BUILD AMERICA MUTUALPARTICIPANTS: Peter Block, Managing Director-Strategic Initiatives SAMUEL A. RAMIREZ & CO., INC. Natalie Cohen, Managing Director, WELLS FARGO SECURITIES LLCJudy Wesalo Temel, Director of Credit Research, Fixed Income Investments, FIERA CAPITAL INC. Stephen Winterstein, Managing Director of Research & Chief Strategist WILMINGTON TRUST INVESTMENT ADVISORS, INC.Michael Zezas, CFA, Managing Director, Municipal Research MORGAN STANLEY

9:20 A.M.Tax ReformThe most profound Tax Reform in three decades has been enacted and it is certain to bring much change. This panel will consider the macro effects but will primarily focus on the select impacts on the municipal market and on municipal credits. The panel will provide the insights from the Hill and will deduce the critical changes to the overall municipal environment.MODERATOR: John Puig, Managing Director, RBC CAPTIAL MARKETSPARTICIPANTS: Howard Cure, Director of Municipal Bond Research EVERCORE WEALTH MANAGEMENT LLCMichael Decker, Managing Director, SIFMA Jessica Giroux, Deputy Director of Governmental Affairs NATIONAL ASSOCIATION OF BOND LAWYERSJane Hudson Ridley, Senior Director & Sector Leader S&P GLOBAL RATINGSEmily Swenson Brock, Director, Federal Liaison Center, GFOA

10:00 A.M.Networking Break 10:15 A.M.Infrastructure: How Will it be Paid for and Who Should Bear the Cost?Given all of the changes emanating from Washington, funding aspects for projects becomes even more critical. Greater focus will be on funding from a variety of sources and in new and different ways. How best to marshal these resources will be examined by the panel.MODERATOR: Noreen White, Co-President ACACIA FINANCIAL GROUP, INC.PARTICIPANTS: Joseph Branca, Chief Financial Officer, LIPA Theodore Chapman, Senior Director & Sector Leader S&P GLOBAL RATINGS Stephen DeGroat, Commissioner Finance & Budget, ROCKLAND COUNTY Kathrin Heitmann, CFA, Vice President - Senior Analyst MOODY’S INVESTORS SERVICE Christopher Jumper, Director, ASSURED GUARANTY

11:00 A.M.Adapting to a Changing Public Finance Market after Tax ReformThe public finance industry is quite used to adapting to change. This time is no different in that regard. However, given the revised context, the panel will consider evolving considerations and will weigh the important factors in the various approaches that will be executed in their strategies during the year.MODERATOR: Howard Zucker, Partner, HAWKINS DELAFIELD & WOOD LLPPARTICIPANTS: Christopher Fink, Managing Director, BANK OF AMERICA MERRILL LYNCH Peter Hill, Managing Director & Head of Public Finance UBS FINANCIAL SERVICES INC. John McNally, Partner, HAWKINS DELAFIELD & WOOD LLP Stratford Shields, Head of Public Finance, WELLS FARGO SECURITIESBob Spangler, Managing Director & Co-Head of Public Finance RBC CAPITAL MARKETS 12:00 P.M.Economic ForecastThe elements contributing to the outlooks for employment, inflation, and growth will be a focus of this session. What is in store for rates and the Fixed Income markets will be gauged.INTRODUCTION BY: Chris Mauro,CFA, Senior Desk Credit Analyst RBC CAPITAL MARKETSTom Porcelli, Chief U.S. Economist, RBC CAPITAL MARKETS

Agenda




12:30 P.M.Luncheon with KeynoteINTRODUCTION BY: James Tricolli, Managing Director and Co-Head of Municipal Finance, RBC CAPITAL MARKETSKEYNOTE SPEAKER: Frank Luntz, Indepent Pollster 1:30 P.M.Unlocking Value from Public Assets: Success Stories in Public & Private Collaboration Municipal assets are frequently undervalued and not fully employed at the highest and best level. The panel deals with new ways to approach assets and to monetize them to generate new capital for other municipal applications. MODERATOR: Chris Hamel, Head of Municipal Finance RBC CAPITAL MARKETSPARTICIPANTS: Jeff Bethke, Executive Vice President DEPAUL UNIVERSITY Gerrard Bushell, President, NEW YORK STATE DORMITORY AUTHORITY Adela Cepeda, Managing Director, PUBLIC FINANCIAL MANAGEMENT, INC. Richard Williams, Chief Financial Officer LOWER COLORADO RIVER AUTHORITY (LCRA) 2:30 P.M. Live Market Survey Sponsored by

The audience will be polled on their opinions of the trends that will shape the market in 2018. The panelists will dissect the responses. MODERATOR: Dan Champeau, Managing Director, FITCH RATINGS PARTICIPANTS: Renee Boicourt, Managing Director, LAMONT FINANCIAL SERVICES CORPORATION Matt Fabian, Partner, MUNICIPAL MARKET ANALYTICS Richard Kolman, Head of Municipal Securities Group ACADEMY SECURITIES, INC. Vikram Rai, Head of Municipal Strategy, CITI 3:15 P.M. Keynote: State of the State - Report Card KEYNOTE SPEAKER: William Glasgall, Director, THE VOLCKER ALLIANCE

3:30 P.M.Networking Break

3:45 P.M.Replacing LIBOR: Technical Aspects & Market ImpactsLIBOR is the underpinning of many financial transactions throughout markets. What replaces LIBOR as we know it is bound to bring about fundamental changes. These adjustments will also affect SIFMA based transactions in turn. The panel will discuss the implications for markets and accepted practices.MODERATOR: Nat Singer, Senior Managing Director SWAP FINANCIAL GROUP PARTICIPANTS: Michael Cloherty, Director, RBC CAPITAL MARKETS Chris Killan, Managing Director-Business Policy and Practices, SIFMA Patrick McCoy, Director of Finance, MTA JR McDermott, Managing Director, Jefferies LLC Nicole Riggs, Vice President – Public Finance MUFG | U. S. Wholesale Banking

4:30 P.M.Competing Goals: High Creditworthiness vs. High LeverageIssuers strive for top ratings in a report card like approach. However, this strategy needs to be questioned when critical needs go unaddressed. At times, greater leverage can greatly contribute to delivering an important project. The panel will entertain the essential tradeoffs.MODERATOR: Gregg Bienstock, CEO & Founder, LUMESISPARTICIPANTS: Brad Gewehr, Director, BANK OF AMERICA MERRILL LYNCH Thomas Kozlik, Managing Director & Municipal Strategist PNC CAPITAL MARKETS LLC Tamara Lowin, Director of Research, BELLE HAVEN INVESTMENTS Kristen Stephens, Executive Director, Senior Municipal Strategist Americas, UBS WEALTH MANAGEMENTScott Zuchorski, Senior Director - Co-Head of US Transportation, FITCH RATINGS

5:15 P.M.Networking Reception

Agenda




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Venue and AccommodationsMetropolitan Club, One East 60th Street, New York City

The Metropolitan Club was designed by Stanford White and was built by David H. King, Jr., both early Metropolitan Club members. The building is one of the most perfect examples of Italian Renaissance architecture in America, and is reminiscent of an Italian palazzo of the style in vogue in Rome during the 16th century.

Dress Code: Gentlemen are required to wear jackets and ties at all times (turtlenecks and ascots are not acceptable). Appropriate attire for ladies is dresses, skirts, dressy pant suits and business pant suits. Jeans, shorts, stirrup pants, leggings, stretch pants, tight pants, sweats and T-shirts are absolutely not acceptable.

www.metropolitanclubnyc.org

Loews Regency New York 540 Park Avenue at 61st Street800-233-2356

Park Lane Hotel 36 Central Park So.866-831-7211

AKA Central Park 42 West 58th Street866-238-4218

Hotel Plaza Athanee 37 East 64th Street212-734-9100

Chambers Hotel 15 West 56th Street at 5th Ave.212-974-5656

Renaissance Hotel New York 57130 East 57th Street212-753-8841

The Quin101 West 57th Street at 6th Ave.212-245-7846

New York Hilton Midtown 1335 Ave. of the Americas212-586-7000

Viceroy Central Park120 West 57th Street212-830-8000

2 Easy Ways to Register

Register ONLINE orCall (212) 803-8393

Registration Rates

SourceMedia Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Course Level: Overview Anticipated CPE Credits: 6.5Prerequisites: NoneConference Level: AllAdvance Preparation: NoneInstructional Delivery method: Group-live Demonstration

CPE Credits

For accommodations, here are some nearby hotels:

IMPORTANT: Please be advised that The Bond Buyer’s National Outlook Conference has not authorized any third-party housing services or third-party housing companies to represent the event and sell hotel rooms on our behalf. Only reserve your hotel room directly with the hotels.

Attendee Type Holiday Savings New Year’s Savings Onsite

Issuers $115 $125 $135

Institutional Investors $295 $395 $495

All Other Professionals $895 $995 $1,095

Ends: 12/29/17 1/30/18

Documents

A LOOK AHEAD€¦ · KEYNOTE SPEAKER: Frank Luntz, Indepent Pollster 1:30 P.M. Unlocking Value from Public Assets: Success Stories in Public & Private Collaboration Municipal assets