Largest turnout in seven-year history for HEFA's 2007 fall conference

More than 160 representatives from Massachusetts health care, higher education, and cultural institutions joined members of the municipal market for spirited discussion at HEFA's annual fall conference, "Current Topics in Tax-Exempt Finance," making it the largest audience in the conference's seven-years.

Charles Samuels of Mintz Levin kicked off the meeting with an update from Washington DC, where he reviewed legislation that could affect tax-exempt borrowing for nonprofits. A panel on the current market turmoil followed, featuring discussion of the subprime mortgage situation and liquidity constraints facing issuers. The panel included important dialogue about the true value of credit enhancement, with specific discussion about the state of bond insurance.

This year's swap panel focused on the risks and rewards of rate locks and forward swaps. John Augustine from Lehman Brothers offered attractive financing opportunities within the still relatively flat yield curve environment, and Peter Shapiro from Swap Financial presented an outlook on interest rates and provided valuable insight into the pricing of swaps.

The conference luncheon, "Lunch with the Experts," kept participants' interest as 14 knowledgeable professionals hosted candid discussions ranging from deal structures to compliance reporting. While that may sound dry, according to conference evaluations it was one of the highlights of the event.

The day closed with a primer on tax-exempt finance, "Back to basics," and a round table of health care and higher education CFOs discussing their institutions' constraints and goals with respect to issuing debt, "CFO Strategies." These concurrent sessions offered something for everyone, from beginner to seasoned professional.

Next year's conference is scheduled for Friday, October 31, so be sure to save the date. More information will be available at HEFA's website, www.mhefa.org.