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7 months ago
U.S. muni supply rises 12.2 pct in 2016, California the top issuer
January 3, 2017 / 8:22 PM / 7 months ago

U.S. muni supply rises 12.2 pct in 2016, California the top issuer

1 Min Read

Jan 3 (Reuters) - U.S. states, cities, schools and other issuers sold $423.8 billion of debt in the municipal market in 2016, a 12.2 percent increase over 2015 and the largest annual supply since 2010's record $430.4 billion, according to Thomson Reuters data on Tuesday.

Bank of America Merrill Lynch was the top muni underwriter with 518 deals totaling nearly $66 billion, while California was the biggest issuer with 13 deals totaling $8.9 billion.

Reporting by Karen Pierog; Editing by Leslie Adler

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