Missouri Refinances Bonds, Expects to Save $3.6M
JEFFERSON CITY (AP) -- Missouri has refinanced some of its debt and expects to save $3.6 million.
The refinancing will save several hundred thousand dollars per year. For example, it is estimated to save nearly $212,000 in the current budget year and $345,000 in fiscal year 2022, when the bonds are paid off. The refinancing affects about $20 million in bonds.
Officials say nine firms placed a bid for the bonds during the refinancing. Jefferies & Company Inc. was the winning bidder because it offered the lowest interest costs.