Pennsylvania Still Doing Refunding

Cataldo, Adam L.
December 2004
Bond Buyer;12/2/2004, Vol. 350 Issue 32021, p1
Trade Publication
The article reports that Pennsylvania, which on Tuesday announced plans to sell a combined $868 million new-money and refunding deal next Wednesday, said yesterday that it still expects to proceed with the refunding component despite rising interest rates. Rick Dreher, director of the state's Bureau of Revenue, Cash Flow, and Debt, said yesterday that the $667 million refunding component is in the money right now but it's close to where a significant rise in rates could adversely impact the ability to do it.


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