Bond sale nets state lowest interest rate

By Derrick DePledge

POSTED: 01:30 a.m. HST, Dec 05, 2012

~~<p>Taking advantage of a friendly market, the Abercrombie administration sold $867 million in bonds in November, attracting the lowest interest rate in state history.</p>
<p>The state sold $470 million in general obligation bonds for new construction projects and refinanced $397 million worth of bonds at a lower interest rate, which will save $54 million in repayment of interest and principal. The interest rate for the bond sale was 2.6 percent, the lowest in the state’s history.</p>
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Taking advantage of a friendly market, the Abercrombie administration sold $867 million in bonds in November, attracting the lowest interest rate in state history.

The state sold $470 million in general obligation bonds for new construction projects and refinanced $397 million worth of bonds at a lower interest rate, which will save $54 million in repayment of interest and principal. The interest rate for the bond sale was 2.6 percent, the lowest in the state’s history. Login for more...