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Article: De La Rosa to Issuers: Avoid Swaps, Focus on Simple Deals.(California Public Finance Conference)
- Article from:
- The Bond Buyer
- Article date:
- September 17, 2008
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Byline: Andrew Ward
SAN FRANCISCO - "When there are sharks in the water, swim close to the shore."
That's the advice Edward J. De La Rosa, president of De La Rosa & Co., gave issuers and other muni market professionals gathered for The Bond Buyer's 18th Annual California Public Finance Conference in San Francisco this week.
For the muni market, that means issuers should focus on simple, fixed-rate deals and especially avoid swaps that force local governments to manage basis and counterparty risks that are far from their core missions, bankers and financial advisers said at the conference and a pre-conference hosted by the California Debt and ...