State Approves New Bonds, Maintains AAA Rating
|Wednesday, September 7, 2005||
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More Than $27 Million in Savings through Refinancing of Existing Bonds
ATLANTA – The Georgia State Financing and Investment Commission (GSFIC) approved today more $506 million in new bonds and refinanced $425 million in existing bonds, resulting in the largest bond issuance in state history of more than $931 million.
“Through sound financial management, the state was able to issue new bonds to support many important projects throughout the state and at the same time save more than $27 million,” said Governor Sonny Perdue.
Through the refinancing of existing bonds at a low interest rate of 3.9 percent, Georgia will save $27.2 million. The major bond rating agencies confirmed Georgia’s AAA bond rating.
A listing of the new bond projects is attached.