MONTPELIER — Vermont State Treasurer Beth Pearce announced that $153.3 million in State General Obligation bonds were successfully sold in three separate series, generating proceeds of $183.1 million, including a premium of $29.8 million. The bonds were issued to fund new capital projects and to refinance existing debt with lower interest rates.

The refinancing portion of the transaction saved the taxpayer over $7.6 million in borrowing costs on a net present value basis. Additionally, the Series A new capital projects portion of the bonds raised $98.8 million in proceeds and was issued at a true interest cost of 1.43%, while the true interest costs for the shorter Series B and C refinancing bonds were 0.63% and 0.66%, respectively.

Funds raised by the bond sale will finance capital projects authorized by the General Assembly, including clean water initiatives, improvements to state buildings, public safety, housing, conservation and recreation projects, and other capital projects.

You must be logged in to react.
Click any reaction to login.
0
0
0
0
0

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.