Within the next five years, Australia and New Zealand region is estimated to require more than $200bn in investment to promote sustainable development and bolster the economy. Credit: Kiri Photography/Shutterstock.

US bond insurer BAM Mutual has forayed into the Australian market, marking its first international expansion.   

The company plans to support the financing of crucial infrastructure projects including energy transition and social infrastructure developments in Australia and New Zealand.  

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The expansion is supported by an experienced team, capable of analysing credit and legal structures of transactions within the Australian and New Zealand markets.  

Heading the new Melbourne office is Andrew Bevan, an Australian native with 25 years of experience in capital markets.  

Bevan is said to have been instrumental in financing more than $10bn (A$14.75bn) in essential infrastructure projects including the Melbourne Convention Centre and Brisbane Airport. 

He will spearhead the identification of opportunities for BAM Mutual to insure both new and existing debt, which will finance projects such as electric power facilities, airports, toll roads and public-private partnerships (PPPs) in social infrastructure.  

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According to Bevan, within the next five years, the region requires over $200bn in investment to promote sustainable development and bolster the economy. 

BAM Mutual CEO Seán McCarthy said: “BAM Mutual’s mission is to make infrastructure more affordable, and we are looking forward to doing that for project sponsors and the users of projects across Australia and New Zealand.  

“BAM’s guaranty improves the economics for infrastructure investment by lowering the cost of borrowing, expanding the investor base and creating greater market liquidity, and giving buyers more certainty that they will be repaid on a timely basis, without exception.” 

BAM Mutual chief credit officer Suzanne Finnegan said: “Australia and New Zealand are markets where BAM insurance can have a meaningful impact for borrowers while we maintain the same credit appetite we have applied in building our US portfolio.” 

As of 30 June 2024, BAM Mutual has insured more than $150bn of long-term securities for upwards of 6,000 bond issuers.