Top muni bond issuers of Q1 2020

Despite a muted month of March due to the COVID-19 pandemic which included two weeks of no negotiated deals, muni bond issuers still sold more long-term debt than they did during the first three months of 2019.

Issuers accounted for a total of $84.87 billion of bonds throughout 2,119 transactions, compared to $75.84 billion in 1,809 deals in first quarter of 2019.

cigarettes and tobacco
Pipe Dream
The Buckeye Tobacco Settlement Financing Authority is atop the top municipal bond issuance perch with a total of $5.35 billion that was brought to market in three deals on one single day.

The TSFA’s $5.352 billion of tobacco settlement asset-backed refunding senior and taxable bonds was the second largest deal ever done in the tobacco sector.
New York City skyline with urban skyscrapers at sunset, USA.
A city so nice, they named it twice
New York City finished the first quarter of 2019 in eighth place but jumped way up so far this year, all the way to second place.

The big apple sold a total of $2.80 billion spanning six deals, more than doubling what they did in the same time last year when they sold $993 million in just two deals.
MTA moving on up
Another NYC issuer — the Metropolitan Transport Authority improved two spots from a year ago with $2.42 billion in eight deals up from $1.20 billion in the same amount of transactions.
Grand Parkway makes gigantic leap
Grand Parkway Transportation Corporation, Texas, finished the quarter in fourth place this year after not placing a top ranking in the first three months of 2019. GPTC issued a total of $2.31 billion after not issuing any bonds in the first quarter of last year.
Golden State sees drop off
The State of California usually finds itself atop the rankings but not this quarter. The Golden State tallied $2.09 billion in only one deal, down from the $3.13 billion in four transactions which was good for first place at the end of the first quarter in 2019.
Berkeley University Library at University of California, Berkeley
Regents of University of California big increase
Staying California, the Regents of the University of California came in sixth place with $1.95 billion, way up from the $653 million they did in the same time last year.
SUNY Brockport Academic Building.jpg
DASNY delivers
The Dormitory Authority of the State of New York accounted for $1.82 billion, good for a one spot improvement from Q1 2019 when they sold $90 million.
Washington DC, USA
National treasurer
The nation's capital was also good for one spot improvement year-over-year with a total of $1.26 billion compared to $938 million.
Chicago's STSC makes leaps and bounds
The city of Chicago's Sales Tax Securitization Corportion saw a big jump from where they stood at this point last year with a total of $1.02 billion from $605 million.
The Badger State's big move
The state of Wisconsin was the only top ten issuer to have less than $1 billion of bonds sold but still was way ahead of last year's pace. So far this year, the Badger State is responsible for $950 million compared to $156 million.