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Salt Lake County advisers report forward-purchase refunding scheduled to close June 17; say transaction yields net present‑value gain
Summary
Financial advisers updated the Debt Review Committee on market conditions and a forward purchase refunding scheduled to close June 17. Advisers said the forward purchase executed earlier produced a positive net present value compared with refinancing in today’s market.
The Salt Lake County Debt Review Committee heard a financial-market update and was told a forward‑purchase refunding of the county’s 2015 general obligation bonds is scheduled to close June 17.
Jonathan (financial advisor) told the committee that county advisers executed a forward purchase in 2022 to refinance the 2015 bonds and that the timing produced a meaningful savings. He said the county’s decision to lock in rates then “saved a significant amount of money for that size of a transaction, about 4.88% on a net present value basis.”
Jonathan also summarized how current market…
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