Connecticut taxpayers will save $35.4 million from the state treasurer’s recent sale and refi of $556.6 million in grade-A debt for infrastructure and clean-water improvements.
State Treasurer Denise L. Nappier said Tuesday that the sale also included the state first batch of Connecticut green bonds, $27.7 million of which were sold to green investors.
The overall interest cost on the refunding bonds is 1.9 percent, Nappier said. As usual, she said, the state structured the transaction to provide level savings over each of the next 11 years of about $3.2 million a year.
The four leading Wall Street credit-rating agencies analyzed and reaffirmed the state’s grade-A quality bond ratings ahead of the sale, Nappier said.
