A document prepared by the issuer or the underlying borrower containing detailed information about the security being offered, the issuer, the obligor and the security pledge for payment of the issue. It is similar to a prospectus in a corporate transaction.
A document much like a prospectus prepared by a municipality and distributed at the time of a bond sale that contains information about the issue.
The official report prepared by or for the issuer indicating the economic, financial, and social characteristics of the issuer and the collateralization for the bond issue.
A written comment prepared for the purpose of responding consistently to any question from the media regarding a particular controversial issue.
The document that provides key information regarding a municipal bond new issue.
Prepared for a new municipal issue by or for the issuer. It contains a complete description of the issue and financial details about the issuer. MSRB rules require that a copy of the official statement be given to each purchaser of a new issue, if one has been prepared.
The Official Statement is used to market the bond issue. The Preliminary Official Statement (POS) discloses pertinent operating and financial information about the hospital, the bond transaction and bondholder risks to prospective bond purchasers, without pricing information. It is occasionally referred to as the “red herring” due to the red ink on the front cover stating the information is preliminary and subject to change. The final Official Statement (OS) is updated to reflect final bond maturity and pricing information.
A statement published by an issuer of a new municipal security describing itself and the issue
A legal opinion attesting to the legality of a municipal bond issue. This is similar to a prospectus in stock issues.
Document prepared by the issuer that gives in detail security and financial information about the issue.
A document (prospectus) circulated for an issuer prior to a bond sale with salient facts regarding the proposed financing. The final OS must be sent to the purchaser before delivery of the bonds.
A document prepared for a new municipal issue by or for the issuer. It describes the issue, financial details about the issuer and other relevant facts. See: Issuer; Legal Opinion; Municipal Bond; New Issue