Please join us for a Foley Executive Briefing Series program exploring the challenges and opportunities presented to nonprofit entities seeking financing in the context of the current financial situation.
New Requirements: The program will begin with a case study based upon a recent borrowing by a nonprofit hospital, and contrast the terms of this transaction with those from a substantially similar borrowing closed in 2004.
New Opportunities: Panelists will discuss new opportunities for nonprofit borrowers — including the increase in the limit for bank-eligible bonds from $10 million to $30 million and the Federal Home Loan Bank’s confirming letter of credit program — and how these opportunities impact borrowers.
New Challenges: Although rates in the short-term market are at historical lows, accessing this market has seldom been more difficult. How can nonprofits take advantage of these low rates? Are short-term borrowings appropriate and available for nonprofits?
New Players: Lehman Brothers and Bear Stearns are no more. Merrill Lynch has been absorbed by Bank of America, and Wells Fargo has acquired Wachovia. Yet many former regional investment banks have taken this opportunity to expand their footprints and their range of business, and local and community banks often are operating profitably and seeking new markets. What opportunities does this present for nonprofit borrowers?
Panelists:
- David Y. Bannard, Moderator, Foley Finance & Financial Institutions Partner
- Edward L. (Ted) Dudley, III, CFO, Lawrence General Hospital
- Lyle Lawrence, Acting Director of Financing Programs, Massachusetts HEFA
- Ike Papadopoulos, Vice President, Piper Jaffray & Co.
For questions about registering, please contact Wendy Decker at [email protected] or 617.342.4000.
Closing the Deal: Tips for Nonprofits Seeking Financing in a Recession is part of the Foley Executive Briefing Series. Learn more about upcoming programs in the series at Foley.com/FEBS.