Marquee names in public finance will gather in Boston next week when Massachusetts holds its third annual investor conference.
Treasurer Steve Grossman’s staff says the event, scheduled from 8 a.m. to 4 p.m. Dec. 12 at the Massachusetts Convention Center, is part of the commonwealth’s enhanced investor disclosure program.
“The purpose is to connect issuers with investors so that we as a state can finance more efficiently,” said Colin MacNaught, the assistant treasurer for debt management. “The more we understand investors’ needs or preferences in terms of bond structure, disclosure and other matters, the better market access we’ll have over the long run.”
Grossman, who took office in 2011 and is running for governor next year as a Democrat, has said that during his tenure Massachusetts has been taking “unprecedented steps to set the highest possible standards in terms of market disclosure.” Initiatives have included frequent investor conferences and calls and a technology-oriented website it launched in March.
The conference will include updates on the Massachusetts economy; market trends in transportation, higher education, green bonds, disclosure and water infrastructure bonds; federal issues that affect the municipal market; and the “new” variable rate market.
Featured speakers and panelists will include Grossman; Massachusetts Bay Transportation Authority chief financial officer Jonathan Davis; state Department of Transportation CFO Dana Levenson; Massachusetts Port Authority finance director Betsy Taylor; Northeastern University professor Alan Clayton-Matthews; Securities Industry and Financial Markets Association managing director Michael Decker; Nat Singer from Swap Financial Group LLC; Thomas Green from Citi; and Anita Jones from Barclays.
Fitch Ratings and Standard & Poor’s rate Massachusetts’ general obligation bonds AA-plus while Moody’s Investors Service assigns an equivalent Aa1 rating. According to Grossman, it is the highest set of ratings in state history.
Massachusetts has planned a $525 million competitive GO sale for Dec. 17. It is technically a 2014 borrowing because it will close in January.
