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Primary market derivatives: satisfying investor appetites
1Municipal Securities Division, Ziegler Securities, Chicago, IL, USA.
Journal of Health Care Finance
|January 1, 1994
Abstract:
This article discusses various financing techniques utilized by municipal entities in their debt structures. These financing structures include inverse floaters, embedded swaps, embedded caps, and synthetic fixed-rate debt. The article explores the advantages and disadvantages of each structure to both the borrower and the investor and its mechanics.