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Issuer decides they need to raise money for a project
This is a highly technical and complex process, so the issuing organization hires special parties to do this work for them. -
The issuer selects the type of obligation and the repayment options
At this stage, the issuer has had board meetings with the organization to discuss logistics and gain approval of all board members. After gaining approval, the issuers have to have the preliminary bonds rated. -
Pricing the Issue
After the credit rating, and before the closing, the Underwriter's will price the bonds. -
Debt Issuance Process
After the credit rating process, the organization, with the help of the Underwriter and Bond Counsel, will distribute the official statement and market the issue. -
Debt Management & Asset Management
After the issuance has gone to market, the Underwrier will continue to manage the logistics of the organization, as well as monitor for refunding opportunities and other investment services.
