Development Bonds - First Half 2012

DEVELOPMENT
FIRST HALF
2012
Volume in millions
 
Number of issues
2011
Volume in millions
 
Number of issues
 
Change from prior period
TOTAL $4,009.3 99 $3,715.9 159 +7.9
First Quarter 1,299.0 36 1,388.5 79 -6.4
Second Quarter 2,710.3 63 2,327.4 80 +16.5
Economic Development 2,863.0 75 2,947.0 136 -2.9
Industrial Development 667.2 21 571.2 15 +16.8
Office Buildings 479.1 3 197.7 8 +142.3
Tax-Exempt 3,661.7 78 3,078.4 113 +18.9
Taxable 331.7 19 627.1 45 -47.1
Minimum-Tax 15.9 2 10.4 1 +52.9
New-Money 1,348.3 53 2,463.3 130 -45.3
Refunding 2,368.3 38 488.1 17 +385.2
Combined 292.7 8 764.5 12 -61.7
Negotiated 3,633.8 73 3,142.5 130 +15.6
Competitive 309.1 19 434.1 18 -28.8
Private Placements 66.4 7 139.3 11 -52.3
Revenue 3,518.3 68 3,201.9 135 +9.9
General Obligation 491.0 31 514.0 24 -4.5
Fixed-Rate 3,375.1 86 3,008.8 144 +12.2
Variable-Rate (Short Put) 577.9 8 635.1 14 -9.0
Variable-Rate (Long/No Put) 3.0 1 0.0 0 n.m.
Zero-Coupon 0.0 0 56.0 5 -100.0
Linked-Rate 53.3 4 0.0 0 n.m.
Auction-Rate 0.0 0 0.0 0 n.m.
Convertible 0.0 0 16.0 3 -100.0
Bond Insurance 64.3 4 71.6 2 -10.2
Letters of Credit 335.3 7 457.4 11 -26.7
Standby Purchase Agreements 0.0 0 0.0 0 n.m.
Insured Mortgages 0.0 0 0.0 0 n.m.
Guaranties 206.3 9 204.2 5 +1.0
State Governments 215.1 7 111.6 4 +92.7
State Agencies 1,828.0 13 799.4 17 +128.7
Counties & Parishes 97.3 4 363.1 6 -73.2
Cities & Towns 511.2 28 318.0 26 +60.8
Districts 132.2 10 100.1 5 +32.1
Local Authorities 1,195.8 36 2,023.8 101 -40.9
Colleges & Universities 0.0 0 0.0 0 n.m.
Direct Issuers 0.0 0 0.0 0 n.m.
Tribal Governments 29.7 1 0.0 0 n.m.
Cooperative Utilities 0.0 0 0.0 0 n.m.
Bank-Qualified 115.8 22 59.5 20 +94.6
Build America Bonds 0.0 0 0.0 0 n.m.
Qualified Sch Construction 0.0 0 0.0 0 n.m.
Other Stimulus 2.4 1 0.0 0 n.m.


Key to Abbreviations: cpt – competitive; GOs – general obligation bonds; ref – refunding.
Source: Thomson Reuters (using data available as of July 14, 2012)

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER