Municipal Underwriting

Celadon Financial Group is a member of the municipal underwriting syndicate managed by Robert W. Baird & Co., one of the largest municipal underwriters in the U.S. As a co-underwriter, Celadon has full participation rights to a highly sought-after inventory of new municipal issues. Through the Third Quarter of 2021, the Baird syndicate ranked 4th overall in volume competitive bidding with over $7 Billion underwritten, and 1st overall in total transactions with over 550 competitive underwritings completed. In addition to its competitive municipal underwriting program, Celadon has developed a negotiated project finance placement business that sources, structures, originates and places Bond Anticipation Notes in the infrastructure sector such as solid waste, energy, dock and wharf, and other project finance transactions that ultimately are refinanced as tax-free municipal securities in the future.

Our institutional underwriting and sales team works with institutional clients including insurance companies, mutual funds, investment advisors, banks, and trust companies.

For further information about our municipal underwriting program, please contact Armand Pastine, Head of Capital Markets, at 917-460-7881 or by email at