Tax Bill Axing Munis - Exit Ops?

If the Tax Bill is passed as is, volume in the muni market could drop 30-40% (getting rid of private activity bonds and advance refundings).

In short, the future of the muni world is looking dimmer than it already did before with spreads becoming almost nothing. I know there are threads on exit ops for public finance - but I am wondering more so the exit ops for public finance that have nothing to do with munis (regulation in this field is almost reason enough to want to leave)

Basically what different fields in debt could one with muni experience apply to and actually have a chance. Debt restructuring seems super interesting to me, but I don't know if one with a couple of years of muni experience would have a chance.

Comments (3)

Nov 5, 2017

Hi mark198, any of these topics helpful:

  • Public Finance Investment Banking- good? market hasn't been great for underwriters of municipal debt recently. Smaller profits, decreasing ... amount of muni debt being issued... I just got an PF internship during the school year in a MM bank ... (Baird, Raymond James, Piper) and public finance seems really cool to me. I think I would be fine in the ...
  • Resources for Distressed Muni/Tax Exempt Restructuring interested in it as it relates to workouts with a project finance component. public finance debt bonds ... Does anyone have resources on bankruptcy, restructuring and workouts for tax exempt debt. My MD ... could point me towards any resources, particularly for the revenue bond side of things. I'm mainly ...
  • Deutsche Bank Muni Capital Markets municipalities. Not traditional muni bonds though. The position is based in Jax. I know people say that Jax is ... municipal capital markets in general? How would the exit opportunities be? DB does not underwrite municipal ... debt, but they apparently do do a lot of derivatives and overlays and alternative financing for ...
  • DCM fees? profitable? Also, if you wanted a career in muni debt you would obviously go into public finance. If you want ... Do corporate debt and municipal debt have different fees? So if Walmart issues $1b in bonds and ... tax exempt debt has an average fee of $5.50 ish per bond so.55%. Is corporate, on average, more
  • Muni Crisis How bad could this get? CBS News: The Day of Reckoning municipal debt ...
  • Muni Finance- San Bernardino's Bankruptcy short muni bonds? Bankruptcy municipal finance Reuters ... a doomed municipality. I was wondering if any muni bond analysts had any light to shed on this story or ... One thing is for sure though: the SEC should start regulating municipality finances much more harshly. ...
  • Public Finance Group IBD Exit Opportunities I have the opportunity to join a top Public Finance Group within the IBD of a bulge bracket. I was ... would I need to get an MBA first? Thanks gents Investment Banking public finance BB ... wondering what the exit opportunities are of this position? Also, I have extensive internship experiences in ...
  • More suggestions...

Maybe one of our professional members will share their wisdom: @modestlocke9 @tan86 @brucelee123

Fingers crossed that one of those helps you.

Apr 17, 2018

Know a guy who kills it in the muni game and just set up his own shop. There are always opportunities even when the product itself is in scruitny, unless its just completely banned.

You can always spin your story I think especially if you are applying to junior level roles or mid roles, as the work of debt related jobs are 90% paper work vs. modeling

Apr 17, 2018
Comment

just google it...you're welcome