(Reuters) - Sales of debt by states, cities, schools and other issuers in the U.S. municipal bond market dipped to $214.5 billion in the first half of 2016, down 0.2 percent from the same period in 2015, according to Thomson Reuters data on Friday.
Bank of America Merrill Lynch (NYSE:BAC) was the top bookrunning underwriter of munis for the first half, while California was the most prolific issuer with nearly $4.52 billion of debt sold.
The Environmental Facilities sector reported the largest year-on-year gains, with $1.13 billion raised in the first half this year compared to $644.3 million last year, a 74.9 percent increase.
While the Housing, Utilities and Transportation sectors also rose, the Electric Power category saw proceeds fall 29.6 percent from this time last year.
Green Bond issuance in the first half of 2016 grew 88 percent from last year, totaling $4.4 billion. Citi underwrote the largest green issue in the second quarter: Massachusetts Water Resources Authority's $681.6 April issue.
June was the most active month in the second quarter, with $45.3 billion raised from 1,333 transactions.