Fifth Third Securities, Inc. Tops List of 2009 Ohio Municipal Advisory Council Bond Purchaser Rankings
CINCINNATI, March 25 /PRNewswire/ -- The Ohio Municipal Advisory Council (OMAC), a non-profit corporation created to provide statistical and disclosure information for Ohio municipal issuers, recently reported Fifth Third Securities, Inc., underwrote more bonds at original sale in 2009 than any other OMAC member*.
Fifth Third Securities, Inc. underwrote 176 bond issues on behalf of school districts, local governments, state university boards and local municipal agencies in 2009, nearly 70 more than its nearest competitor. The 176 Ohio bond issues underwritten in 2009 totaled nearly $1.4 billion in par amount.
"As a regional bond dealer, Fifth Third Securities, Inc. is able to establish community contacts and has the experience to serve as a partner and trusted advisor in these important bond and note issues," said Marty Vogtsberger, vice president and Managing Director of Institutional Brokerage for Fifth Third Securities, Inc.
OMAC members include 18 securities dealers and banks that purchase bond issues at original sale on behalf of local governments and state educational boards and more. The firm then sells these bonds to institutional and individual investors.
This is the second consecutive year Fifth Third Securities, Inc. has underwritten more bond issues than any other OMAC member*. In 2007, Fifth Third Securities ranked second in the number of bond issues underwritten, but ranked first in bond dollar volume*.
"Despite the economic downturn over the past few years, these municipal bonds continue to perform well for both issuers and investors," Vogtsberger said. "The credit quality in Ohio is very good and these bonds continue to provide capital at the lowest cost for those municipal governments and schools that need it."
Fifth Third Securities, Inc. is also one of the largest underwriters of municipal debt in Michigan and Indiana, with markets expanding throughout the Bank's 12-state footprint. For more information about how municipal and county governments, school districts and others can obtain information regarding bond issues, please contact the Fifth Third Securities Public Finance Group at (614) 744-7439.
*Source: Ohio Municipal Advisory Council. Based on all negotiated issues except IBDs, including special assessment issues. State of Ohio Issues not included.
Fifth Third Securities is a wholly owned subsidiary of Fifth Third Bank.
Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a registered broker-dealer and registered investment advisor. Securities and investments offered through Fifth Third Securities, Inc.:
Are Not FDIC Insured Offer No Bank Guarantee May Lose Value Are Not Insured By Any Federal Government Agency Are Not A Deposit
Insurance products made available through Fifth Third Insurance Agency, Inc.
SOURCE Fifth Third Securities, Inc.
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