New York issuers lead top 10 of 2020
Issuers priced a record $474 billion in 2020 and New York issuers claimed three of the top five and five of the top 10 spots.
California again led issuance with $7.473 billion in 10 deals while New York City rose to second from 8th with $6.592 billion.
The New York Metropolitan Transportation Authority followed with $6.182 billion, a figure that excludes the $3.35 billion of notes it sold to the Federal Reserve through the Municipal Liquidity Facility. If those figures were included, the MTA would have beat out all issuers with $9.942 billion of debt.
Also excluded from the top 32 issuers was Illinois, which would have made the list if its $3.2 billion MLF loans were included.
New Jersey landed in 9th with $3.997 billion and Massachusetts fell five spots to 10th with $3.653 billion.
There were three issuers that made the top 10 in 2020, but did not issue bonds in 2019, including the Buckeye Tobacco Financing Authority’s $5.352 billion refinancing, which landed in 5th place. The Regents of the University of California climbed to 7th place with 10 deals worth $4.598 billion from 114th place and $653 million in 2019.