The big refi sees state benefit from low rates, continued credit-market appetite
One of the few bright spots in the fiscal crises facing states has been the chance to take advantage of low interest rates to sell bonds and refinance debt. Washington State Treasurer James McIntire’s office held an $831 million bond sale Wednesday. Thanks to the low rates in the credit markets that meant $21.6 million saved on future interest costs of the new debt vs. budgeted expenses. It also …

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