Refunding Bonds
FIRST HALF
2012
Volume in millions
 
Number of issues
2011
Volume in millions
 
Number of issues
 
Change from prior period
TOTAL $86,044.1 3,440 $35,075.0 1,495 +145.3
First Quarter 36,917.1 1,715 14,214.7 633 +159.7
Second Quarter 49,127.1 1,725 20,860.2 862 +135.5
Development 2,368.3 38 488.1 17 +385.2
Education 25,298.6 1,513 12,728.0 636 +98.8
Electric Power 2,913.8 52 2,665.4 37 +9.3
Environmental Facilities 644.1 17 285.9 6 +125.3
Health Care 5,623.9 87 2,789.0 49 +101.6
Housing 1,065.9 28 224.0 15 +375.8
Public Facilities 2,306.8 141 558.1 64 +313.3
Transportation 9,534.6 92 4,415.8 70 +115.9
Utilities 10,604.5 569 3,638.8 203 +191.4
General Purpose 25,683.8 903 7,281.8 398 +252.7
Tax-Exempt 80,739.7 3,189 29,405.7 1,384 +174.6
Taxable 3,450.3 226 3,663.9 83 5.8
Minimum-Tax 1,854.1 25 2,005.3 28 7.5
Negotiated 72,030.9 2,547 27,942.4 1,136 +157.8
Competitive 13,445.7 852 5,412.7 305 +148.4
Private Placements 567.6 41 1,719.8 54 67.0
Revenue 47,730.4 1,034 22,503.9 467 +112.1
General Obligation 38,313.8 2,406 12,571.1 1,028 +204.8
Fixed-Rate 82,494.1 3,391 28,668.0 1,427 +187.8
Variable-Rate (Short Put) 1,252.6 16 1,827.8 32 31.5
Variable-Rate (Long/No Put) 610.9 9 982.1 11 37.8
Zero-Coupon 236.8 125 59.6 66 +297.3
Linked-Rate 1,336.8 13 3,512.9 23 61.9
Auction-Rate 0.0 0 0.0 0 n.m.
Convertible 113.0 4 24.7 1 +357.5
Bond Insurance 3,961.6 375 2,321.8 167 +70.6
Letters of Credit 870.6 8 1,246.3 18 30.1
Standby Purchase Agreements 186.4 3 177.6 2 +5.0
Insured Mortgages 15.3 1 104.2 5 85.3
Guaranties 7,899.1 623 4,310.5 236 +83.3
Other Enhancements 3.4 1 0.0 0 n.m.
State Governments 10,357.3 53 2,728.7 17 +279.6
State Agencies 22,611.1 199 8,933.2 101 +153.1
Counties & Parishes 4,949.4 256 1,676.8 94 +195.2
Cities & Towns 14,396.4 954 5,714.3 456 +151.9
Districts 19,914.3 1,592 8,154.7 637 +144.2
Local Authorities 11,647.7 300 6,211.8 164 +87.5
Colleges & Universities 1,937.7 78 425.1 17 +355.8
Direct Issuers 177.6 6 1,217.3 8 85.4
Tribal Governments 0.0 0 0.0 0 n.m.
Cooperative Utilities 52.7 2 13.2 1 +299.2
Bank-Qualified 8,123.2 1,856 3,192.4 848 +154.5
Build America Bonds 0.0 0 0.0 0 n.m.
Qualified Sch Construction 0.0 0 0.0 0 n.m.
Other Stimulus 31.5 2 1.9 1 +1557.9


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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