How to Find Investor Relations Materials for Municipal Bonds
Municipal bonds, also known as tax-exempt bonds, are issued by state and local governments and their agencies. They can be attractive to investors because the interest income is often tax-free. While most publicly traded stocks provide a variety of materials designed to keep investors informed, finding investor relations information for municipal bonds can be trickier, partly because they are subject to a different set of regulatory requirements. However, several resources can help you find the information you need to make informed decisions about municipal bond investments.
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Instructions
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Identify the specific bond you want to research. In addition to the city issuing the bond, you will need to know the issue date and interest rate. A bond can also be easily identified by its Committee on Uniform Securities Identification Procedures (CUSIP) number, an alphanumeric code assigned to all registered stocks and bonds.
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Visit the issuer's website. Search for investor relations materials by seeing if it is a menu option or use the site's search engine. Many municipal bond issuers will have a section clearly labeled "investor relations," but others may use different terminology. Search for terms like "debt management" and "bondholder information." This information is often contained within the treasurer's or comptroller's section of the website.
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Note the type of information that will help you assess the creditworthiness of a bond issue, or the financial condition of its issuer. Look for materials including bond ratings, Comprehensive Annual Financial Reports (CAFR), quarterly or monthly financial information, official statements, and secondary market disclosure materials.
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Visit specialty websites that contain this information. Examples include the Municipal Securities Rulemaking Board (MSRB) Electronic Municipal Market Access system (EMMA), which is searchable by CUSIP number and contains links to official statements and continuing disclosure documents.
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Tips & Warnings
Note and accept disclaimers when visiting an investor relations website. Confer with an investment professional before making investment decisions.
