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Past Event
11 June 2008
Teleconference

Credit Market Distress Monthly Teleconference Series: Auction Rate Securities

Teleconference
Credit Market Distress Monthly Teleconference Series: Auction Rate Securities

Wednesday, June 11, 2008

There are approximately $330 billion of auction rate securities (ARS) outstanding, including corporate, municipal and closed-end fund issuance, and until recently ARS were properly regarded as an attractive and useful financing technique. The credit crisis has changed that perception dramatically to the point that ARS are now regarded as a "problem" and many affected issuers face significant ARS restructuring challenges.

This month's teleconference focuses on selected exposure and restructuring issues affecting ARS. Topics to be covered include:

  • Market overview (including the different "types" of ARS)
  • Restructuring constraints and recent SEC and IRS steps to facilitate ARS restructuring
  • Special municipal issues (including the recent New York Department of Insurance guidance regarding the termination of "non-cancelable" financial insurance)
  • Broker-dealer exposure
Speakers
Paul Forrester
Richard Morvillo

Listen to the audio recording >>

For additional information, please contact Jean Shim at or +1 202 263 3885

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