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Hanover finance advisers outline possible refinancing of 2020 and 2025 bonds; parameters ordinance expected next month
Summary
A financing‑team presenter reviewed three debt issues as candidates for refinancing to lower interest rates and reduce debt service; transactional costs were estimated at roughly $100,000–$150,000 for a bank‑qualified issue and bond counsel will return with a parameters ordinance next month.
A representative of the borough’s financing team (identified in discussion as Jim) gave an informational presentation on April 7 outlining options to refinance portions of the borough’s outstanding debt.
Jim described three issues under review — the series 2020A, series 2020D and a 2025 bond note — and said refinancing could lower the borough’s annual debt service if market rates move favorably. He compared the…
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