Bond Refinancing saves Millions for FHSD and its Taxpayers
Bond Refinancing saves Millions for Francis Howell and its Taxpayers
25 November 2019
In November, lower interest rates in the bond market provided an opportunity for FHSD to save on interest costs for a portion of its outstanding debt. The District offered for sale over $32 million of general obligation refunding bonds and received over $74 million worth of orders. That high demand for Francis Howell bonds, coupled with favorable market conditions, allowed the District to lower interest rates even further than initial estimates, and secure total cash flow savings of nearly $3.2 million.
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