California headlined the top 10 issuers of the first half of 2023, almost all of which outperformed their par amounts year-over-year.
Four new issuers entered the top 10, one of which did not sell debt in the first half of 2023. Three of the issuers who fell out of the top 10 — the Louisiana Local Government Environmental Facilities and Community Development Authority, the Dormitory Authority of the State of New York and the Virginia Small Business Financial Authority — dropped to the Top 15. Meanwhile, the fourth issuer, the Regents of the University of Michigan, did not issue any debt during the first half of 2023.
Most top 10 issuers for 1H are from New York and California, with three from New York and three from California.