MINIMUM-TAX BONDS
FIRST HALF
2012
Volume in millions
 
Number of issues
2011
Volume in millions
 
Number of issues
 
Change from prior period
First Quarter 1,094.60 20 763.5 18 43.4
Second Quarter 3,401.90 39 2,350.70 26 44.7
Development 15.9 2 10.4 1 52.9
Education 492 6 596.4 6 -17.5
Electric Power 23.7 2 22.5 1 5.3
Environmental Facilities 148.3 5 84.3 3 75.9
Health Care 0 0 0 0 n.m.
Housing 614.2 16 98.1 6 526.1
Public Facilities 0 0 0 0 n.m.
Transportation 3,158.60 23 2,093.70 24 50.9
Utilities 26.9 2 208.8 3 -87.1
General Purpose 16.9 3 0 0 n.m.
New-Money 2,319.20 28 666.2 12 248.1
Refunding 1,854.10 25 2,005.30 28 -7.5
Combined 323.2 6 442.6 4 -27.0
Negotiated 3,901.50 55 2,839.10 38 37.4
Competitive 595 4 258.1 4 130.5
Private Placements 0 0 17.1 2 -100.0
Revenue 4,471.50 55 2,842.60 37 57.3
General Obligation 25 4 271.6 7 -90.8
Fixed-Rate 4,406.50 55 3,109.30 43 41.7
Variable-Rate (Short Put) 90 4 5 1 1700
Variable-Rate (Long/No Put) 0 0 0 0 n.m.
Zero-Coupon 0 0 0 0 n.m.
Linked-Rate 0 0 0 0 n.m.
Auction-Rate 0 0 0 0 n.m.
Convertible 0 0 0 0 n.m.
Bond Insurance 29.4 2 30 2 -2.0
Letters of Credit 15 2 5 1 200
Standby Purchase Agreements 0 0 0 0 n.m.
Insured Mortgages 0 0 50.4 1 -100.0
Guaranties 171.3 2 0 0 n.m.
State Governments 5.9 1 168.1 3 -96.5
State Agencies 2,521.10 30 1,015.20 16 148.3
Counties & Parishes 225.3 2 139.2 2 61.9
Cities & Towns 704.1 9 956.7 10 -26.4
Districts 16.2 1 179.7 1 -91.0
Local Authorities 1,023.90 16 641.8 10 59.5
Colleges & Universities 0 0 6.4 1 -100.0
Direct Issuers 0 0 7.2 1 -100.0
Tribal Governments 0 0 0 0 n.m.
Cooperative Utilities 0 0 0 0 n.m.
Bank-Qualified 0 0 3.1 1 -100.0
Build America Bonds 0 0 0 0 n.m.
Qualified Sch Construction 0 0 0 0 n.m.
Other Stimulus 0 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)

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