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Oct 3 (Reuters) - Debt issuance by states, cities, schools and other issuers in the U.S. municipal bond market totaled $323.4 billion in the first three quarters of 2016, a 7.4 percent increase from the same period in 2015, according to Thomson Reuters data on Monday.
Bank of America Merrill Lynch was the top underwriter of muni bonds during 2016's first nine months with 408 deals, totaling nearly $50 billion. California was the biggest debt issuer with 10 deals totaling $7.27 billion.
Reporting By Karen Pierog; Editing by Chris Reese