Keen interest in buying Vermont bonds and record low interest rates has resulted in the State paying the lowest borrowing costs on record in decades. In addition, the $69 million refunding portion of this week’s bond sale will generate $5.4 million in budget savings over the next 13 years.
“In a very diverse sale of four different bond offerings totaling $132 million, the State averaged a true interest cost of just 2.11 percent,” said State Treasurer Beth Pearce. “We had originally planned a two-day sale period for the Citizen Bonds and the Refunding Bonds, but interest was so great the sale was completed in just one day. The quality of our highly rated bonds allowed us to pay less in borrowing costs, which translates into further fiscal savings for Vermont taxpayers.”
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