Win Analytics LLC From NIC to TIC to RAY:
1 / 1

Win Analytics LLC From NIC to TIC to RAY:

Author : lois-ondreau | Published Date : 2025-06-23

Description: Win Analytics LLC From NIC to TIC to RAY Calculating True Lifetime Cost of Capital for Municipal Borrowers by Peter Orr and Martin Luby Discussion by Winthrop Smith 5th Annual Municipal Finance Conference July 12 2016 Callable Premium

Presentation Embed Code

Download Presentation

Download Presentation The PPT/PDF document "Win Analytics LLC From NIC to TIC to RAY:" is the property of its rightful owner. Permission is granted to download and print the materials on this website for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.

Transcript:Win Analytics LLC From NIC to TIC to RAY::
Win Analytics LLC From NIC to TIC to RAY: Calculating True Lifetime Cost of Capital for Municipal Borrowers by Peter Orr and Martin Luby Discussion by Winthrop Smith 5th Annual Municipal Finance Conference July 12, 2016 Callable Premium Bonds 1 What is a 5% 20-year maturity w/ 10-year call? 20-year bond with in-the-money call? 10-year bond with out-of-the-money put? Bond Anticipation Bond? Concerns Issuer not paid for full debt schedule Reasonable debt level requires refinancing Market Opacity Key Assumptions for the RAY Calculation 2 Interest Rate Process Reversion to Historical Average Yield Curve Many Factors Structuring Par Bonds Matched Maturities for Bonds and Escrows Using RAY for Competitive Bids 3 Can public officials have confidence in calculations? Can bidders understand calculations? Will bidders be discouraged? Can calculations be processed & verified quickly? Is it better to be optimal or robust? 4 Suggestion for Further Research 5 How sensitive is RAY to key assumptions? Target yield curve Matched maturity structure Investigate other competitive bid procedures, such as: Publish option values for various coupons & maturities before bid Calculate adjusted TIC with preset option values

Download Document

Here is the link to download the presentation.
"Win Analytics LLC From NIC to TIC to RAY:"The content belongs to its owner. You may download and print it for personal use, without modification, and keep all copyright notices. By downloading, you agree to these terms.

Related Presentations

Profil TIC des étudiants Profil TIC des étudiants du collégial : Tic-Tac-Toe  Mystery Succession planning and you An Introduction to Win-Win Discipline Win-Win Discipline: Spencer Kagan 1 Data  Analytics Analytics NIC COMPONENTS CORP. Copyright 2017 OSIsoft LLC TraumaInformed Organizational Capacity Scale TIC Scale CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS : CMA Part 1: Financial Planning - Win-Win Strategies and Student Positions Win-Win Negotiation:            Expanding the Pie