The Debt Management team directs borrowing activities to finance the University’s capital projects. The team analyzes current conditions in the financial markets and makes recommendations on the transaction structure for each financing.
The Mission of the Debt Management Team is to:
- Coordinate debt transactions with investment bankers, rating agencies, investors, credit providers, the issuing agency (i.e. New York State Dormitory Authority), and bond attorneys.
- Reference the current conditions in the financial markets in order to:
- Optimize the University’s cost of funds for each transaction; and
- Design an appropriate rate and amortization structure with respect to the projects being financed.
- Collaborate with the Office of Budget and Planning to finance capital plans efficiently, with an understanding of the impacts on the University’s financials and credit rating.
- Review projects for eligible uses of tax-exempt debt or consider taxable debt alternatives.
- Prepare and submit continuing disclosure documents pertaining to University operations, as required by the bond documents.
- Maintain records of the use of tax-exempt bond proceeds and manage space use policies to maintain compliance with IRS regulations.
- Monitor opportunities to refinance outstanding debt for cash flow savings.