"The Government Receivables CPC™: A Short-term State GO Equivalent"
Hosted by Joanne Marlowe
Request podcast here.
Webinar Description: Accessing US State-Quality Credit
The Government Receivables CPC™ is a unique 90-day fixed income asset that creates a new and highly scalable access point for one of the most well-defined credits in the marketplace -- State General Obligation Bond equivalent risk. Like all Master Credit Participation Certificates ("CPCs"), the Government Receivables CPC is a fractional ownership interest in a single source credit. In this case, that credit is senior secured by a portfolio of approved accounts receivables obligations that are payable by a single State-government obligor. The Government Receivables CPC then efficiently translates the underlying granular receivables obligations into collective support for a single CPC series that reflects the underlying rating of the State*.
When you acquire a Government Receivables CPC, you are NOT entering into the world of factoring with all of its pitfalls and idiosyncrasies. The holder of a Government Receivables CPC does not make any purchase or take ownership of any invoices or accounts receivable obligations. Instead, the Government Receivable CPC provides exposure to a homogeneous set of state payment obligations that captures premium yield -- consistent with the pricing of a high-quality receivables factoring transaction -- within the context of a standardized credit instrument having a government credit/risk profile. The Government Receivables CPC, whether rated or unrated, can fit comfortably into almost any fixed income portfolio.
Please join us for this free educational webinar to learn about the characteristics and attributes of the Government Receivables CPC. In this informative webinar, you will learn about:
- What a CPC actually is and how it is similar to and uniquely different from other credit instruments in the market
- How the Government Receivables CPC harnesses tried-and-true factoring practices to produce this easy-to-manage credit class
- What improvements the Government Receivables CPC makes on proven securitization tools to drive more efficient exposure to this credit asset class
- The universal controls and third-party safeguards that are built into every CPC to protect investors' interests
- Our streamlined due diligence and first-time participant incentive program to encourage your firm to acquire your first Government Receivables CPC Real-life transactions, their terms, conditions and pricing framed in a case study analysis
- Our easy-to-use web-based portal for transaction access, and coming soon, mobile apps.
With fixed income managers today digging for new and reliable sources of yield, the Government Receivables CPC provides scalable access to short-term US State Government credit with a pricing model that may deliver performance in excess of annualized GO Bonds rates of that same State. We invite you to join us in this "no obligation" educational web-based forum to see how the Government Receivables CPC really works.
* Duff & Phelps' Structural Analysis Report on the Government Receivables CPC, dated November 4, 2011
Watch for NEW web-educational sessions, including:
- "The ABIC™: Gateway to Understanding the CPC"
- "Fund Enhancement CPC™; A New "Cashless" Route to Hedge Fund Exposure"
- "Special Enhancement CPC™; Enhancing Yields with Revenue Participation and Performance-based Returns Using Assets You Understand"
- "Private Equity Enhancement CPC™; Equity-like Returns Wrapped in an Unfunded Credit"
Notice: The information contained in this announcement is only accurate as of the date of its publication and release, and may contain certain forward-looking statements based upon anticipated events that may or may not come to pass. The company makes no representation or warranty as to the correctness or accuracy of the information contained herein, and is under no obligation to update this information at any time after the date of release.