Ramiro Carbonell and Rebecca Delia Present at AICUP Member Meeting

READING, PA – July 10, 2019 – Ramiro Carbonell of Stevens & Lee and Rebecca Delia of Stevens & Lee affiliate FSL Public Finance presented at the 2019 Member Meeting on Collaboration for the Association of Independent Colleges and Universities of Pennsylvania (AICUP) held Thursday, June 20 in Harrisburg, PA.

Mr. Carbonell and Ms. Delia presented, “Why is LIBOR Going Away – What Does it Mean to Me?” as part of a panel which also included financial institution and college executives. The presenters discussed the impact of transitioning from LIBOR (London Interbank Offered Rate) to the SOFR (Secured Overnight Financing Rate) which are benchmarks used by banks to determine interest rates for commercial loans, mortgages, commercial paper and other debt, as well as derivatives.

Mr. Carbonell is a Shareholder with Stevens & Lee where he concentrates in tax-exempt finance with an emphasis on taxation and federal arbitrage law, Federal Low Income Housing Tax Credit transactions and New Markets Tax Credit transactions. He serves as bond counsel to colleges and universities, health care institutions and municipalities, and has been involved in over 1,500 transactions.

He holds a Master’s in Finance from Pennsylvania State University, an LL.M. in Taxation from Temple University School of Law, a J.D. from Rutgers University School of Law, and a B.S. from New York University.

Ms. Delia is Senior Vice President of FSL Public Finance where she advises colleges and universities in executing capital raises, including debt raises, sale/leaseback transactions and derivative products, as well as on strategic alternatives.

Ms. Delia has worked with colleges and universities, governmental and non-profit entities in the Mid-Atlantic region in connection with all types of financing products. She has transacted multiple new money, refunding and advance refunding issues, as well as term remarketings, including taxable and tax-exempt for both enhanced and unenhanced issues. Additionally, she is a Trustee and Finance Committee Chair of Salus University.

Ms. Delia holds a Master’s in International Management from the American Graduate School of International Management and a B.A. from Indiana University of Pennsylvania.

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