For too long, issuers have lacked access to tools that market professionals use to evaluate financing scenarios. Without direct access to debt sizing tools, issuers are left in the dark, unable to efficiently compare multiple financing options or understand the full impact of new debt on their financial position.
One of the biggest questions issuers have is:
"If I issue new debt, how will this change my existing debt service?"
The reality is that issuers face strict limitations on how much debt they can take on, whether due to legal borrowing constraints, responsible fiscal policy, or both. But when debt is spread across multiple projects, accurately predicting its long-term impact becomes incredibly complex.
Without the right debt sizing tools, structuring debt remains a time-consuming process, one that often leaves issuers reacting rather than strategizing.
The Need for a Smarter Approach to New Issue Structuring
What if issuers had tools empowering them through the budget and issuance process? What if they didn’t have to wait for every scenario to run?
DebtBook’s Sizing feature is designed to empower issuers by giving them the ability to structure, analyze, and compare financing options in-house, in real time.
By eliminating guesswork and delays, issuers can make smarter, more informed decisions, ensuring their debt remains affordable, sustainable, and aligned with their financial goals.
For the first time, issuers have a tool that puts them in control of structuring their own debt.
And that changes everything.
What is New Issue Structuring?
Every time an issuer takes on new debt, they must carefully design the structure of that financing. New issue structuring is the process of determining the terms of a debt issuance: how much to borrow, how long to repay, and how debt service will be managed over time.
New issue structuring requires balancing affordability, compliance, and strategic financial planning to ensure the debt supports long-term financial health.
The Core Elements of New Issue Structuring
When structuring a new debt issuance, issuers must answer key questions, including:
- How much should we borrow? Ensuring the right amount is issued to meet funding needs without overextending financial obligations.
- What repayment structure makes the most sense? Should the debt follow a level principal, level debt, or other repayment structure?
- What impact will this new issuance have on our existing debt? Will it increase risk, affect coverage ratios, or impact the issuer’s ability to fund future projects?
- How will this debt fit within legal and policy constraints? Many issuers have debt limits imposed by state laws, bond covenants, or internal financial policies that restrict borrowing capacity.
Without a clear structuring approach, issuers risk taking on unaffordable obligations, paying higher interest over time, or violating financial covenants.
What is a Sizing Tool?
Sizing is a powerful structuring tool that allows issuers to compare, contrast, and analyze financing options before issuing new debt. It gives issuers the ability to model different scenarios, understand trade-offs, and make informed decisions–all in real time.
The Challenge: A Complex and Time-Consuming Process
Since issuers have not had direct access to debt sizing tools, this lack of visibility makes it difficult for issuers to:
- Compare different structuring scenarios quickly and understand the trade-offs between financing options.
- Understand how inputs change the outputs they care about.
- Make real-time adjustments to align with financial goals.
When structuring a debt issuance, issuers need more control, more visibility, and a faster way to evaluate their options.
How Sizing is Changing New Issue Structuring
With DebtBook’s Sizing feature, issuers finally have the ability to structure new debt issuances in-house.
With Sizing, issuers can:
- Create potential debt issuances using real-time market data.
- Compare multiple structuring options side by side.
- See the full impact of new debt on their existing debt portfolio.
DebtBook’s Sizing tool brings issuers into the structuring process, empowering them to make data-driven decisions faster and more efficiently.
For the first time, issuers have the ability to take an active role in structuring their own debt, ensuring every issuance is designed with clarity, control, and confidence.
A New Era in Financial Structuring
Gone are the days when issuers have not had access to sophisticated bond structuring models. DebtBook’s Sizing feature provides insight that revolutionizes how issuers approach financial structuring.
Key Benefits of DebtBook’s Sizing Tool
- Structure New Money Issues
- Build and customize debt structures, including fixed-rate loans, using live market pricing data via MBIS integration.
- Analyze Financing Options in Context
- Layer proposed debt issuances over existing obligations to evaluate the impact on coverage, covenants, and project affordability.
- Compare Financing Scenarios
- View side-by-side comparisons to see how different terms, interest rates, and repayment structures affect outcomes.
- Streamline New Issuances
- Turn modeled financing scenarios into verified debt issuances and seamlessly add them to your DebtBook profile.
“With DebtBook’s Sizing feature, I'm very excited that I don't have to rely on my municipal advisor for every little number run because I'm the type of person who likes to tinker. I like to see different options, I like to tweak them to get to where I want to go. And I understand having been on that side of the table that it can be a little cumbersome for them to receive ten different scenario requests and then five more and then maybe another three as you're fine tuning things. Having that ability to do that in-house, not having to build out the debt sizing in Excel, which can be a little bit cumbersome and a little ugly, is something
I'm very excited for moving forward.”
Unlock Visibility Into New Debt Issuances
Issuers have traditionally lacked the ability to see how new financing will impact their broader debt portfolio.
DebtBook changes that by providing real-time, data-driven insights, allowing treasury teams to:
- Project debt service obligations across multiple financing scenarios.
- Optimize repayment structures to balance affordability with financial sustainability.
- Analyze compliance with borrowing limits and fiscal policy constraints.
How You Can Use Sizing
Whether structuring a new issuance or budgeting how additional debt fits within existing obligations, Sizing gives issuers the clarity and control they need to make strategic, data-driven decisions.
Structure New Money Issues
DebtBook’s Sizing module allows issuers to build structured debt models using multiple repayment structures, including:
- Level Debt: Equal annual debt service payments for predictable budgeting.
- Level Debt Wrap: Structured payments that maintain stable total debt service alongside existing obligations.
- Level Principal: Fixed principal payments, reducing total interest costs over time.
- Fixed-Rate Loans: Compare structured bond issuances to traditional loan financing.
With real-time market data integration, issuers can model multiple borrowing strategies and tailor structures to fit their financial goals.
Analyze Financing Options Within DebtBook
Understanding how new debt will impact an issuer’s overall financial position is critical. DebtBook allows issuers to:
- Layer proposed issuances into their existing DebtBook profile for a complete financial picture.
- Assess the impact of new debt on coverage, covenants, and project affordability before finalizing a structure.
- Ensure compliance with borrowing limits and fiscal policies by evaluating debt service obligations in context.
This real-time integration with an issuer’s debt portfolio enables faster, smarter decision-making.
Compare Financing Scenarios
Every financing decision has trade-offs. DebtBook’s Sizing tool allows issuers to view multiple structuring options side by side, helping them:
- Evaluate how different term lengths, interest rates, and repayment schedules affect overall cost.
- Identify the most cost-effective financing strategy based on real-time data.
- Quickly adjust inputs to model the impact of different funding approaches.
Turn Scenarios into Verified Debt Issuances
Once issuers identify the best financing structure, DebtBook makes it easy to transition from analysis to action.
- Convert modeled scenarios into actual debt issuances with seamless integration into DebtBook.
- Maintain a single source of truth by automatically incorporating new debt into the issuer’s financial profile.
- Streamline reporting and long-term debt management without manual data entry or spreadsheet tracking.
Using DebtBook’s Sizing Tool with the Debt Management Platform
DebtBook’s Sizing feature works seamlessly within DebtBook’s Debt Management Platform, providing issuers with a holistic, data-driven approach to financial structuring and debt oversight.
For the first time, issuers can structure, analyze, and compare new debt issuances using the same platform that already houses their existing debt portfolio. This gives them a clear, integrated view of their total financial picture.
See Sizing in Action
Want to see how DebtBook’s Sizing feature can streamline your new issue structuring process?
Watch our 2-minute Feature Flash to explore how DebtBook empowers issuers to structure, compare, and analyze financing options, all using real data from their DebtBook profile.
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Disclaimer: DebtBook does not provide professional services or advice. DebtBook has prepared these materials for general informational and educational purposes, which means we have not tailored the information to your specific circumstances. Please consult your professional advisors before taking action based on any information in these materials. Any use of this information is solely at your own risk.
