FMSbonds, Inc. is No. 1 High-Yield, Tax-Exempt Underwriter in Florida, Texas in 2021

FMSbonds, Inc. raised $1.5 billion through high-yield, tax-exempt infrastructure bonds for the homebuilding industry in 2021, finishing the year as the No. 1 underwriter in both Florida and Texas.

The firm closed 139 separate transactions.

Jon Kessler, Executive Director, and R.R. “Tripp” Davenport, III, Director, lead FMSbonds, Inc.’s investment bank division.

Florida YE 2021

Number of CDD Underwritings

  • FMSbonds - 84
  • All Other Firms - 31

Texas YE 2021

Number of PID Underwritings

  • FMSbonds - 48
  • All Other Firms - 3

In Texas, FMSbonds, Inc. marketed and underwrote 48 Public Improvement District deals in 2021 – 94% of the market – with a par value of $521 million.

Since 2017, the firm has marketed and underwritten 132 Texas special assessment deals representing more than $894 million in bonds and approximately 90% market share.

FMSbonds, Inc. has been the No. 1 PID bond underwriter in Texas every year since 2017.

In Florida last year, FMSbonds, Inc. marketed and underwrote 84 Community Development District deals – 73% of the market – with a par value of $838 million.

FMSbonds, Inc. is a broker-dealer established in 1978. Their offices are located in North Miami Beach and Boca Raton, Florida; Dallas; Denver; Chicago; Seattle; Westchester; and Whippany, New Jersey.

For more information, contact Kessler at 305-692-4124, or Davenport at 877-899-2220,

* Bonds closed or priced through 12/31/2021. Full credit to Sr. Manager, non-rated, new issues only. Excludes refunding bonds and bonds supported with ad valorem taxes and purposefully excludes Wisconsin PFA or any other out-of-state conduit issuers. Percentages may not sum due to rounding.