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Prepaid Gas - Evolving Structure
Wednesday, May 10, 2023, 3:00 PM - 5:00 PM EDT
Category: Events

PhAMAS

Panel Discussion

Wednesday, May 10, 2023

Prepaid Gas - Evolving Structure

Date: Wednesday, May 10, 2023

Time: 3:00 pm - 5:00 pm

Location: 

Zoom or
Ballard Spahr LLP
1735 Market Street, 48th Floor
Philadelphia, PA 19103

Description: Prepaid gas transactions are structured deals that provide savings for municipal gas and energy authorities, access to the municipal market for the guarantor and an investment opportunity for the buy-side. The sector has experienced substantial growth over the past several years, reaching nearly $50B in debt outstanding. This session will provide insights from the issuer, buy-side, and guarantor perspective regarding the structural components of the transactions. We will outline the benefits of these deals in the municipal marketplace and touch on the finer points of the evolving credit structure.

Featuring:

Peter DeGroot
Peter DeGroot is a Managing Director of J.P. Morgan and heads the Investment Bank's Municipal Research and Strategy efforts. J.P. Morgan's Municipal Research and Strategy Group publishes daily and weekly market analytics and commentary for issuer and investor clients. The team also advises the firm's investor clients on risk and performance management in tax-exempt and taxable municipal bond portfolios.

Mr. DeGroot regularly speaks at industry events and is often cited in the financial press. Peter has been voted the top ranked municipal bond strategist for more than 10-years, and again in 2022 based on the annual survey by Institutional Investor.

Mr. DeGroot began his career in the Investment Banking Division at Manufacturers Hanover Trust, in New York. He holds degrees from Saint Francis College in Computer Science and Business Management.

Howard Chang
Howard Chang serves as East Bay Community Energy's (EBCE) Chief Operating Officer and Treasurer. He has direct responsibility over the Finance, Power Procurement, and Technology & Analytics functions. EBCE is the Community Choice Aggregator that serves Alameda County and parts of San Joaquin County.

Prior to EBCE, Howard led Sol Systems' Utility Development and M&A efforts nationally. He worked at SunEdison in roles leading the Commercial & Industrial Channel Operations team, serving as Chief of Staff of the North America Region, and in Utility scale project finance. Howard began his career at J.P. Morgan in the Investment Bank's Corporate Structuring & Solutions Group where he focused on new product development and off-the-run structured transactions. He has also worked in General Electric's Energy Financial Services division and EnerNoc's Utility Solutions team.

Howard holds an MBA from the Yale School of Management and a Master of Environmental Management from the Yale School of Forestry & Environmental Studies. He completed his undergraduate studies at Johns Hopkins University, where he graduated with General Honors in Economics.

Matthew McKinley
Matthew McKinley serves as Black Belt Energy's President and Chief Executive Officer. He graduated in 2007 with a degree in accounting and a master's degree in Business. After working as an auditor and banking consultant, he completed his CPA license. Outside his time in public accounting, he has seven years of experience in the Natural Gas industry.

Justin Ferrera
Justin Ferrera is an Analyst on the Municipal Credit Research Team within Vanguard's Fixed Income Group. He is responsible for covering a broad range of sectors including housing, preferred shares, and tender option bonds, as well as being a member of the Municipal Investment Committee. Prior to joining Vanguard in 2016, he worked for a financial technology firm based out of Boise, ID. He earned degrees in Physics and Finance from the University of Idaho and a Master's degree in Computer Science from Arizona State University. He is a CFA® charterholder.

Kelly McCaughey
Kelly McCaughey is an Analyst on the Municipal Credit Research Team within Vanguard's Fixed Income Group. She is responsible for covering several sectors including prepaid gas, higher education, state and local governments, and public-private-partnerships (P3s). Kelly earned her degree in Finance and Economics from Northern Arizona University.

Cost:
$25 for members of PhAMAS or NFMA
$50 for non-Members

Attendance by ZOOM is available for the same cost.

Registration: CLICK HERE TO REGISTER

Please contact Ellen Cannarsa at [email protected] with any questions.

The Philadelphia Area Municipal Analyst Society (PhAMAS) is a not-for-profit association with members located in the Philadelphia region, including southern New Jersey, Delaware and Maryland.