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Responsibilities of Debt Issuers CDIAC Debt Basics – February 1, 2011 Marla Bleavins – Debt & Treasury Manager Los Angeles World Airports

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Responsibilities of Debt Issuers. CDIAC Debt Basics – February 1, 2011 Marla Bleavins – Debt & Treasury Manager Los Angeles World Airports. Overview. The Planning Process Managing the Financing Team Understanding Your Transaction Investor Outreach Rating Agency Process - PowerPoint PPT Presentation

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  • Responsibilities of Debt IssuersCDIAC Debt Basics February 1, 2011Marla Bleavins Debt & Treasury Manager Los Angeles World Airports

  • OverviewThe Planning ProcessManaging the Financing TeamUnderstanding Your TransactionInvestor OutreachRating Agency ProcessPost Issuance Matters

  • The Planning ProcessEstablish a debt policy Identify capital needs Select financing teamSet targets and structure for debt issuanceDetermine method of sale Educate your decision making body about the transaction

  • Managing the Financing TeamIssuer as quarterbackSelect team earlyClarify roles and expectations from the startMaintain a strong presence throughout the transactionStrive for balance of opinions Be mindful of biases and turf wars

  • Understanding the TransactionKnow your dealKnow what your organizations obligations are going forwardUnderstand the documentsUnderstand the numbers and how they impact your organization Be wary of trendsDont be afraid to push back on the experts

  • Investor RelationsMost dramatic change since 2008Be proactiveHave an internet presence Investor Relations Web Site Work with disclosure counsel NetroadshowOne-on-one meetings with investors

  • Rating Agency ProcessBe proactiveHave a strong narrative, not just a data dumpInvolve your upper management prepare themAnticipate questions and organize key data in easily accessible chartsMake the analysts job easy

  • Post Issuance MattersDebt service paymentsAnnual disclosure filingsCompliance with bond covenantsUpdate rating agencies and investorsTracking arbitrage rebate liabilitiesMonitor refunding opportunitiesVendor managementTechnological ToolsTickler system and debt management software