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California Debt and Investment Advisory Commission 

The 25th Annual CDIAC Pre-conference to The Bond Buyer’s 36th Annual California Public Finance Conference:

Learning to Critically Examine Refunding Opportunities

Learning to Critically Examine Refunding Opportunities

Wednesday, October 14, 2026
Marriott Marquis
780 Mission Street, San Francisco, California

 

Managing the cost of financing is one of the highest priority responsibilities for agency finance professionals. Refunding is one of the most impactful financial management tools issuers can use to mitigate risk and reduce the cost of debt, or is it? The preconference sessions will explore refunding strategies, the financial justifications, the call option itself, and the circumstances when refundings may not be as efficient as issuers would like them to be. This program is intended to help issuers to understand and challenge conventions, and more fully consider the factors that can drive the success of future refunding transactions.

Agenda

Presentation Materials

Printed versions of the seminar presentations are not provided on the day-of the event. PDF files for the combined presentation and individual sessions are listed below.

Speakers

  • Robert Hannay, Treasury Manager, East Bay Municipal Utility District
  • Tony Hughes, Managing Director, Barclays Capital
  • Dr. Andrew Kalotay, Ph.D., President, Kalotay Advisors LLC
  • Hal Kotowsky, Acting Director of Capital Finance, San Francisco International Airport
  • David Leifer, Senior Managing Director, KNN Public Finance
  • Fiona Ma, CPA, Treasurer, State of California
  • Safdar Mirza, Executive Director, Public Finance Banking, J.P. Morgan Securities
  • Nat Singer, Senior Director, PFM Financial Advisors LLC
  • Nikolai Sklaroff, Capital Finance Director, San Franciso Public Utilities Commission
  • Simon Wirecki, Western Regional Head for Municipal Finance, Jefferies LLC

Recommended Resources

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