Village Saves Over $1M in Refunding

Village Saves Over $1M in Refunding
Posted on 08/18/2011

The Village recently refunded a portion of its outstanding GO Bond debt. Due to its strong credit rating, which was recently reaffirmed by both Moody's and Standard & Poor's credit rating agencies at Aa1 and AA+, respectively, this refunding opportunity resulted in a savings of approximately $1.002M in interest costs over the remaining life of the bonds. The average coupon rate on the refunded bonds was 4.057%; the average rate on the refunding bonds is 2.107%. Click here to read news reports about this refunding.