Auctions Overview » MuniAuction®
Download MuniAuction Bond and Note PDF 
Download Build America Bonds (BABs) PDF
MuniAuction was launched by Grant Street Group in 1997 as an online auction site. Since its inception, MuniAuction has hosted thousands of auctions for municipal bonds and notes. The open auction leads to more bids as bidders can see whether their bids are "In the Money" or "Out of the Money".
Benefits of MuniAuction:
County of Lehigh, PA - $88 Million General Obligation Bonds
Build America Bonds - Per Maturity Selection Option
Increases Competition
- Open Auction – Bidders see their bid status; motivated to improve bid
- Auction Extension with Two Minute Rule
Provides Versatility
- Variety of Formats Acceptable
- For Bonds: Current Interest or Capital Appreciation
- For Notes: All-or-None, Partial Bid, etc.
- Auctions can be advertised and conducted on short notice
Transparency
- Results and bid details available to the public online
Increases Efficiency
- Calculates TIC or NIC and identifies winner(s)
- Does not accept invalid bids
- Online Document posting and dissemination
Build America Bonds
Issuers using MuniAuction now have the flexibility to choose in an All-Or-None award format three methods for conducting their competitive sales of BABs:
- Allow bids for BABs only;
- Give underwriters the option to submit either a BABs bid or tax-exempt bid; or
- Allow underwriters to select a combination of taxable BABs or tax-exempt bonds on a per maturity basis.
Grant Street Group's system performs the necessary calculations to convert the taxable BABs bids to factor in the 35% or 45% federal subsidy, thereby giving the issuer and financial advisor the ability to quickly compare the ultimate interest costs associated with each underwriter's bid.
View a MuniAuction Bond, Note or BAB Replay or Demo