New Jersey EDA Approves $700M School Construction Bond Refunding

Cataldo, Adam L.
December 2004
Bond Buyer;12/16/2004, Vol. 350 Issue 32031, p29
Trade Publication
The article gives information about the New Jersey Economic Development Authority, which has approved a plan to refund $700 million of appropriation-backed debt. Tom Vincz, a spokesman for the state treasurer's office, said the refunding is expected to come to market by mid-January. Based on current market conditions, the deal is expected to generate a present value savings of 3.1%, Vincz said. Since April 2001, the authority has issued $3.4 billion of debt, has executed $3.75 billion of interest rate swaps and has issued $45.9 million of taxable bonds for school construction projects.


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