Transportation debt issuance climbed 115.1% over the first nine months of the year, with 392 issues totaling $20.6 billion, compared to the same period last year.

According to data compiled by Securities Data Co., refundings continued their heated pace, jumping 264.6% over the period, with 117 issues totaling $8.2 billion. Analysts attributed the surge in refundings to the low interest rate environment.

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