BAM Secondary Market Insurance Quotes Now Available on Bloomberg
NEW YORK, June 20, 2016
Build America Mutual, the first mutual insurer of US municipal bonds, is now posting indicative quotes for secondary market insurance on more than 10,000 CUSIPs on the Bloomberg Professional Service. All of the bonds listed have been underwritten by BAM’s public finance group and pre-approved by the insurer’s credit committee.
“Secondary market insurance is becoming a more important tool for institutional investors and regional dealers that want to enhance the credit quality and liquidity of their holdings and offerings,” said Scott Richbourg, BAM’s Head of Public Finance. “Bloomberg is a part of their workday, and having our prices there helps make the process of wrapping a bond with insurance as seamless as possible.”
Bloomberg Terminal users who select the ALLQ page for a bond that is eligible for BAM insurance will see the price quote next to the new “BAMZ” ticker symbol. They can then call BAM’s secondary market desk at 212-235-2550 to execute the transaction. BAM’s secondary quotes are also available on MuniBrokers.com and the Lumesis DIVERAdvisor platform, and BAM insurance is available for live execution via TMC Bonds.
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 March 1, BAM has written more than 2,400 policies, insuring more than $24 billion of municipal securities. Learn more at: http://buildamerica.com/mission/
For more information, please contact:
Michael Stanton, Head of Corporate Strategy and Communications 212-235-2575; firstname.lastname@example.org