AUSTIN — Not yet a year after Build America Bonds began to lift municipal debt issuance to its second-highest volume on record, issuers and brokers are finding that they must commit more time to educating potential investors who make up an increasingly diverse base of buyers, experts told The Bond Buyer’s Texas Public Finance Conference yesterday.

The advent of taxable BABs and aversion to risk in corporate debt brought a flood of retail buyers onto the muni scene in 2009, but many of those investors needed a lot of reassurance about the peculiarities of fixed-income instruments, some said.

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