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Jefferson County sewer refunding, Washington BABs refunding, DASNY mega deal led Q1 2024

ByBond Buyer Staff
April 10, 2024 9:50 AM

The Dormitory Authority of the State of New York headlined the top 10 issuers in the first quarter of 2024 with a near $3 billion deal in March.

DASNY, Washington (Build America Bond refunding), (January general obligation deal), Jefferson County, Alabama, (massive $2.3 billion sewer refunding) and the New Jersey Education Facilities Authority (largely Princeton University debt) entered the top 10, with the last three issuers coming to market after not issuing any debt in the first quarter of 2023.

These new entrants bumped the New York City Municipal Water Finance Authority, the New York City Transitional Finance Authority, the Texas Natural Gas Securitization Finance Corp., the California Community Choice Finance Authority and the Louisiana Local Government Environmental Facilities and Community Development Authority.

Half of the top 10 issuers are from two states, with three from New York and two from California.

Source: LSEG

Chart of top issuers in Q1 2024 where Main Street Natural Gas is ranked 10th with a Par amount of $1.59 billion.
Main Street Natural Gas was ranked 8th in Q1 2023. 
Chart of top issuers in Q1 2024 where New Jersey Educational Facilities Authority is ranked 9th with a Par amount of $1.73 billion.
Of the total issuance in 2024, $1.48 billion was for Princeton University. The New Jersey Educational Facilities Authority was not ranked in Q1 2023.
Chart of top issuers in Q1 2024 where Washington is ranked 8th with a Par amount of $2.06 billion.
Washington was ranked 17th in Q1 2023.
Chart of top issuers in Q1 2024 where Jefferson Co - Alabama is ranked 7th with a Par amount of $2.24 billion.
Jefferson Co - Alabama was not ranked in Q1 2023.
Chart of top issuers in Q1 2024 where Triborough Bridge & Tunnel Authority is ranked 6th with a Par amount of $2.25 billion.
Triborough Bridge & Tunnel Authority was ranked 2nd in Q1 2023.
Chart of top issuers in Q1 2024 where New York City- New York is ranked 5th with a Par amount of $2.48 billion.
New York City - New York was ranked 5th in Q1 2023.
Chart of top issuers in Q1 2024 where Regents of the University of California is ranked 4th with a Par amount of $2.49 billion.
Regents of the University of California was ranked 4th in Q1 2023.
Chart of top issuers in Q1 2024 where Massachusetts is ranked 3rd with a Par amount of $2.54 billion.
Massachusetts was not ranked in Q1 2023.
Chart of top issuers in Q1 2024 where California is ranked 2nd with a Par amount of $2.61 billion.
California was ranked 7th in Q1 2023.
Chart of top issuers in Q1 2024 where NYS Dorm Authority is ranked 1st with a Par amount of $3.23 billion.
NYS Dorm Authority was ranked 575th in Q1 2023. 
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