BAM Credit Profiles are an indispensable tool for making informed investment decisions. Developed by BAM’s dedicated municipal market experts and updated annually, each Credit Profile provides investors with the key fundamental, financial, and demographic information they need to understand the underlying credit quality of every transaction we insure. BAM Credit Profiles are available for free … Continued
BAM Mutual is a mutual bond insurance company that operates for the benefit of its mutual members – the bond issuers and infrastructure project sponsors that use our insurance to achieve reliable and efficient market access. BAM is managed to maintain strong capital resources and ratings stability. BAM Mutual is committed to the highest level … Continued
Build America Mutual, the first mutual insurer of US municipal bonds, and MuniBrokers LLC, an online service aggregating bond offerings and bid-wanted lists from nine of the nation’s largest interdealer bond brokerage firms, today announced that BAM will list indicative secondary-market insurance premium quotes on the MuniBrokers site.
“Bringing additional tools and information to users on our website is a continuing priority here at MuniBrokers,” said Jay Caldas, President of MuniBrokers, LLC. “We’ve been linked to BAM Credit Profiles for all BAM-insured inventory since last year, and this update adds information about the availability and cost of adding a BAM guaranty to users’ holdings or offerings, the obvious next step as the utilization of secondary market insurance to improve bonds’ ratings and liquidity becomes more common.”
Inventory that has been pre-approved for insurance by BAM’s credit committee will be flagged on the site with a quote for the insurance, expressed in terms of dollars per bond, and the corresponding all-in yield calculated by MuniBrokers. Users will call BAM’s Capital Markets desk to confirm terms and execute the insurance transaction. BAM insured $611 million of bonds in the secondary market in 2015, up 30% from 2014.
“Adding BAM’s quotes to the MuniBrokers platform will streamline price discovery for traders who are already utilizing secondary market wraps as part of their strategies, and help others identify and evaluate situations where insurance adds value,” said Scott Richbourg, BAM’s Head of Public Finance.
BAM Credit Profiles (formerly known as Obligor Disclosure Briefs) will continue to be available for all BAM-insured bonds listed on the site. Municipal bond investors, traders, and sales professionals use BAM Credit Profiles to make their mandatory reviews of municipal credit quality faster and more efficient, while bond issuers – the public-sector entities that are BAM’s members – benefit from increased transparency that can improve the liquidity of their insured and uninsured bonds. BAM publishes a Credit Profile for every issuer it insures, and updates them annually. To date, BAM has published more than 2,500 Credit Profiles.
About Build America Mutual
Build America Mutual improves municipal bond liquidity and market access for issuers by providing municipal bondholders with an unconditional, irrevocable guaranty that principal and interest will be paid on schedule. As a mutual insurer, BAM is operated for the benefit of its members – which are, exclusively, the U.S. cities, counties, towns, and other public-sector entities that use BAM’s financial guaranty to lower their cost of borrowing. BAM is sponsored by the National League of Cities.
Through February 1, BAM has written more than 2,400 policies, insuring more than $24 billion of municipal securities. Learn more at: https://live-bambondscom.pantheonsite.io/about-bam/
About MuniBrokers.com
MuniBrokers, LLC provides software to interdealer brokers and a subscription web based trading system for their clients through MuniBrokers.com.
Their connectivity, customer distribution network and intuitive systems enable MuniBrokers to offer a unique opportunity for market participants to enhance their business.
MuniBrokers supports transactions in Municipal, Corporate, Agency and US Treasury securities.
For more information, please contact:
Michael Stanton, Head of Corporate Strategy and Communications, Build America Mutual 212-235-2575; mstanton@buildamerica.com
BAM-insured bonds are available in the municipal primary and secondary markets. Secondary policies are also available to add BAM’s guaranty to bonds you already own or are considering for purchase. Investors and other market professionals can also view BAM’s pre-approved credits via Bloomberg‘s ALLQ page, and Investortools’ Perform portfolio management system. BAM Credit Profiles available on every BAM-insured … Continued
Stay up to date on new opportunities to invest in BAM-insured bonds for infrastructure with BAM’s calendar of upcoming sales – including direct links to BAM Pre-Sale Credit Profiles when available. New and Upcoming Sales
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The BAM GreenStar Assessment program will identify green bonds sold by U.S. municipal bond issuers for infrastructure projects that provide clear environmental benefits.
Like you, we at BAM are ready to hit the ground running, supporting municipal issuers when they access the market to finance essential public infrastructure. More than 2,200 issuers have already become members of BAM, and we’ve now insured almost $35 billion, after another record year in 2016 ($11.4 billion par insured, including more than $950 million in the secondary market). In a challenging market,
our insured bonds are a valuable source of liquidity: More than $500 million of BAM insured bonds trade hands in the secondary market in a typical week, and insurance was used more frequently on AA-category credits when interest rates rose during the fourth quarter.
As Head of Risk Management, Laura Levenstein has responsibility for BAM’s risk management strategy and its oversight, including acting as chair of the Enterprise Risk Committee. Laura also serves on the Management, Underwriting and Credit Policy and Surveillance Committees. Before joining BAM, she was Senior Managing Director for Global Public, Project and Infrastructure Finance, which … Continued
Understand Why BAM Mutual Is Unique BAM Mutual is a mutual bond insurance company that operates for the benefit of its mutual members – the bond issuers and infrastructure project sponsors that use our insurance to achieve reliable and efficient market access. BAM is managed to maintain strong capital resources and ratings stability. BAM’s unconditional … Continued
Primary Market If you are an issuer, municipal advisor, or investment banker with a negotiated or competitive transaction you would like BAM to qualify for insurance, submit the following documents well in advance of the sale date: Send electronic copies to: submission@bambonds.com Secondary Market BAM’s Capital Markets desk, with six full-time professionals, provides first-class execution on … Continued
Our Latest Insights Featured Credit Profiles The BAM Advantage BAM Mutual is focused on the long-term success of issuers and investors in the dynamic infrastructure sector. Our commitment to risk management, superior market analysis, expert underwriting and execution has earned a AA rating and Stable Outlook from S&P Global Ratings – the highest assigned to … Continued