New Jersey Plans Two Refundings Totaling $1.71 Billion in January

Cataldo, Adam L.
December 2004
Bond Buyer;12/10/2004, Vol. 350 Issue 32027, p6
Trade Publication
The article reports on the state New Jersey's decision to conduct two separate refundings totaling about $1,71 billion in January 2005. The deals provide the state with an estimated present-value savings of about $14 million and also deferring debt service payments for two fiscal years on some of the debt. The state Legislature's Joint Budget Oversight committee voted to approve the treasury department's plans for both refundings at a hearing in Trenton. The approval comes as the state is searching for solutions to close a projected deficit of more than $4 billion for next year.


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