Muni Jargon
During pricing, "cutting" a 2.50% yield by 10 bps would result in a yield at this level.
What is 2.60%?
This letter is typically sent to issuers at the earliest point of engagement for a transaction.
What is a G-17 letter?
This kind of bond has a yield higher than the coupon.
What is a discount bond?
They're "middle office" and are the gatekeepers on transaction wires and money transfer wires.
Who are Mary Jo, Jim, and Emmanuel?
This is the highest long-term credit rating an issuer can have.
Aaa / AAA / AAA
This describes a refunding that takes shorter maturities and places them out longer.
What is a scoop and toss?
Preliminary official statements and investor roadshows need signoffs from bankers with this license before being published.
What is Series 53?
This is the date on which interest for a bond starts accruing.
What is the dated date?
The two primary internal counsel who we go to for underwriter's counsel approval, BPA review, and other matters.
Who are Ryan Gilliam and Jeremy Smith?
Bonds rated below this level are considered "non-investment grade".
What is Baa3 / BBB- / BBB-?
This concept describes the relationship between MMD and treasury yield curves.
What is "ratio"?
This internal application is used to keep track of all deal processing matters.
What is Origination Central?
Daily Double
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1 bp = this % of 1%
What is 1%
She helps schedule TRC and MCC meetings.
Who is Brenda Terrell?
This kind of bond's credit benefits from pledges of two separate revenue streams.
What is Double Barrelled?
During a pricing, "bumping" a 2.50% yield by 10 bps would result in a yield at this level.
What is 2.40%?
This is one of the documents required for a TRC meeting.
What is a Roadmap, Pre-QCC and TRC form?
Principal payments go in this direction over time under a level debt service structure.
What is increase / go up?
They are the go-tos for RFP legal and HR questions.
Who are Deborah Kelley & Sydney Mattheis?
These are considered the "big three" credit rating agencies.
What is Moody's, S&P, and Fitch?
This term is also used to describe a mandatory tender.
What is a hard put?
This represents one way that a transaction can be made public.
What is POS mailing, EMMA notice with required information, proof of TEFRA hearing?
This term is also sometimes called a "stub period".
What is a short coupon?
He's the go-to for compliance related issues and questions.
Who is Don Bamford?
Approximately this % of new issue munis are rated "A" or better.
What is 93%?