BAM-insured bonds are backed by our unconditional guarantee and are rated AA with a Stable outlook by S&P Global Ratings – the highest rating S&P assigns to any bond insurer – helping bond issuers access the capital markets efficiently and at the lowest possible cost. Since 2012, BAM has insured more than $150 billion of bonds used to finance essential infrastructure for more than 6,000 communities. The BAM team is the most experienced in the industry: That means underwriters, municipal advisors, and issuers can rest assured knowing their transactions – whether for a $5 million wastewater system or a $100 million+ complex project finance initiative – will receive the same expert analysis and the highest level of customer service.

BAM insurance premiums are calculated as a percentage of total debt service, and can also be quoted in terms of the spread on each maturity. Payments are typically made upfront, with installment pricing available upon request.

Contact your BAM underwriter or visit our page for more information about the required materials and timelines to obtain a BAM insurance quote.

Yes. While private placement insurance is fairly rare in the market, BAM is well-equipped to provide it where needed. Please follow the same process outlined above to request a coverage bid.

Yes. BAM does not require a public underlying rating, but BAM only insured high-quality bonds for essential infrastructure that earn an investment-grade rating from our internal analysts.

For select high-quality transactions, BAM can issue a DSRF insurance policy that will guarantee an issuer’s obligations under its debt service reserve fund covenants (typically equal to the maximum annual debt service due over the life of the transaction). DSRF Sureties can be issued on a standalone basis or in conjunction with BAM insurance. DSRF sureties allow issuers to generate savings by eliminating negative arbitrage between the bond yield and the DSRF investment return. Issuers can also benefit from the additional financial flexibility of using DSRF cash balances for other purposes.

BAM typically requests a minimum of two weeks to review a deal. BAM’s underwriters will work with issuers and transaction teams to accommodate faster turnarounds when possible.