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Financial advisers present refinancing options that could cut district debt service by millions
Summary
Raymond James advisers told the board refinancing call dates and market timing could yield up to $3.3 million in debt‑service savings if interest rates fall; board was asked to authorize a parameters resolution and preparatory work, with final action deferred.
Financial advisers from Raymond James briefed the Harrisburg City School District board on Feb. 11 about the district’s outstanding debt and potential refunding (refinancing) opportunities that could lower annual debt service.
Lou Verdeli and Ryan Brockman described two near‑term refunding opportunities. One issue from 2014 became callable Dec. 1, 2024; another set of 2016 bonds becomes callable Dec. 1, 2026 (with 90‑day activity allowed before that call date). The advisers said the 2016 refunding, if done next summer and if market rates are favorable,…
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