An attorney or law firm retained by the issuer to prepare the official statement and continuing disclosure agreement, provide advice on issuer disclosure obligations, and report any changes which would materially affect bondholders.
Municipal Advisor (with respect to municipal securities)Melanie James2020-12-08T18:55:13-08:00
A consultant who advises the issuer on matters, such as: structure, timing, marketing, fairness of pricing, terms, and bond ratings. A municipal advisor may also provide advice on cash flow and investment matters.
The entity responsible for transmitting interest and principal payments from an issuer to the bondholders. The paying agent is usually a bank or trust company, but may be the treasurer or some other officer of the issuer.
A company that prints and distributes the official statement and other legal documents.
Issuers have two options for accessing funding, a public offering or a private placement. Each of these options has distinct advantages or disadvantages that may affect funding costs and/or the timing of a bond issue.