Refunding transaction helps address the State’s budget challenges WILMINGTON, Del. – The State of Delaware today announced the successful refunding of $33 million of debt at a record low Total Interest Cost of 0.79%. The transaction will save the State $5.2 million in debt service on a net present value basis over the next decade and is […]
Bond refunding saves taxpayers $15 million WILMINGTON, Del. – Delaware’s proactive fiscal management has been recognized with the announcement of the State’s triple-A bond ratings and an upgrade of the rating for Delaware Transportation Authority (DTA) bonds. The State’s ratings were issued in advance of the refunding of $123 million of Series 2009D Build America […]
Finance Secretary Rick Geisenberger today announced that the State closed on the sale of $250 million in triple-A-rated general obligation bonds in last week’s bond sale. This was the second bond sale within four months. “New federal tax policy eliminates the State’s ability to ‘advance’ refund its general obligation bonds for savings, so, in November, […]
Finance Secretary Thomas J. Cook announced today that Delaware successfully sold $236 million in triple-A-rated general obligation bonds in Tuesday’s annual bond sale, effectively netting a savings of over $8 million for Delaware taxpayers.
In their review for the state’s upcoming bond sale, Standard & Poor’s Rating Services, Fitch Ratings, and Moody’s Investors Service have all awarded Delaware a triple-A credit rating, the highest rating possible.