Regional Connecticut Water Agency Readies $443 Million Revenue Deal

O'Brien, Elizabeth
September 2004
Bond Buyer;9/10/2004, Vol. 349 Issue 31966, p4
Trade Publication
This article reports that the South Central Connecticut Regional Water Authority will issue $44.3 million in water system revenue bonds in a competitive deal that includes $10.97 million that will be used to refund bond anticipation notes issued last week to pay J.P. Morgan Chase & Co. to terminate an $80.3 million swap agreement. Efficiencies between the swap market and the municipal bond market led the authority to prepare to terminate the swap at the same time as it issued new money. The agency had looked to unwind the swap last December, but market conditions proved unfavorable and the transaction was scrapped.


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