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Article: New Jersey EDA Approves $700M School Construction Bond Refunding.
- Article from:
- The Bond Buyer
- Article date:
- December 16, 2004
- Author:
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The New Jersey Economic Development Authority on Monday 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.
The timing of the deal is unclear. Officials at the state treasurer's office could not be reached for comment before press time.
The authority will issue 2005 Series K bonds to refund parts or all of the School Facilities Construction Bonds Series A, C, F, G, and I.
The fixed-rate ...