Deal of the Year nominations are open

BY SourceMedia | MUNICIPAL | 09/10/20 01:31 PM EDT By Mike Scarchilli

Readers:

For the 19th year, The Bond Buyer?s editorial board will identify and recognize the year?s most outstanding municipal finance transactions. As always, we will be looking for deals that exemplify the creativity and resourcefulness this industry brings to bear on projects that advance the infrastructure and quality of life in the nation?s municipalities. These qualities take on additional importance here in 2020, as issuers across the nation face unprecedented challenges.

After expanding the program a year ago to better represent the full diversity of the communities and public purposes this market comprises, the slate of honored deals will remain at 10, meaning there will continue to be an opportunity for deals of any size, complexity or structure.

The Deal of the Year awards will feature five regional awards for each of our five coverage areas (Northeast, Southeast, Southwest, Midwest, Far West). We will also award honorees in each of the following five categories:

  • Small Issuer (for municipalities with less than $70 million of revenue in their last fiscal year)
  • Healthcare
  • Public-Private Partnership
  • ESG/Green (must be independently verified)
  • Innovative

Application forms for this year?s Deal of the Year awards can be accessed at this link. Nominations close on Friday, Oct. 2. The 10 winners will be announced in the fall and will all contend for the overall 2020 Deal of the Year Award, which will be unveiled in a virtual ceremony in December.

Please note the eligibility requirements below, and let us know if you have any questions. Good luck!

Eligibility

Deals that close between October 1, 2019 and September 30, 2020 are eligible for this year?s judging.

Attach to your application some photos of the project and a nominating statement of one page or less that explains the following:

  • In what category is the deal being nominated (note on the nominating statement if you think it should be considered in multiple categories)
  • The basic structure of the deal, the use of proceeds / purpose of the transaction
  • Why the deal was done
  • Why the deal deserves recognition

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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