Tuesday Midday Learning Opps

SWAP: A Four-Letter Word or a Valuable Tool?

  • Tuesday, July 16
  • 10:15 AM - 11:45 AM
  • Austin Conv Center
  • Level 4, 11AB

Speakers

Steph Chichester

President

North Slope Capital Advisors

Denver, Colorado

Margaret Henry

Treasurer

Colorado State University System

Ft. Collins, Colorado

Laura Humberger

Associate Vice President for Financial Services

Montana State University

Bozeman, Montana

George Middlemist

Associate Vice President of Administration/Chief Financial Officer

Metropolitan State University of Denver

Denver, Colorado

Kirsten Volpi

Executive Vice President and Chief Operating Officer, Chief Financial Officer, Treasurer

Colorado School of Mines

Golden, Colorado

Description

The Tax Cuts and Jobs Act (TCJA) of 2017 stripped universities of one of their most powerful debt management tools: tax-exempt advance refundings. This tool—which unlocked savings, guarded against interest rate risk, and allowed debt to be inexpensively reshaped—has vanished. What role will interest rate swaps play in the post-TCJA world? Hear how four universities decided to continue using swaps, the risks they have shouldered, and the lessons they’ve learned. Attendees will have opportunities to add their own “swap” stories to those of the panelists.

Learning Objectives

  • Understand which debt structures did not perform in the most recent recession and why
  • Look at interest rate swaps in a different light, post-tax reform
  • Determine if interest rate swaps can deliver a unique benefit in a post-tax reform environment