Having a credit risk near zero translates into the State saving majorly on interest rates.
The ratings have been received in conjunction with the State’s proposed issuance of $340.0 million of its general obligation bonds. Of the total bonds, $225.0 million represents new money for capital projects, primarily school construction projects, while over $115.0 million will refinance existing higher priced debt.
Retail bonds will be available from the following brokers until February 19, 2013:
BofA Merrill Lynch
(800) 937-0424 (Wilmington)
(800) 487-4518 (Rehoboth Beach)
(800) 937-0631 (Dover)
Raymond James & Associates, Inc.
Drexel Hamilton LLC.
Loop Capital Markets
M&T Securities, Inc.