Pickens County authority votes to review refinancing of airport bonds after Stifel presentation

At its March 6, 2026 meeting, the Pickens County Development Authority voted 5-0 to authorize the chair to request an engagement letter for a review of refunding options on two airport-related bonds after a presentation from Andrew Tripp of Stifel.

Tripp, introduced by county staff, told the authority that refunding the 2018 and 2021 bond issues could reduce the blended yield on those debts from roughly the current 7.5% range to approximately 5.05%, producing estimated aggregate nominal savings of $884,000 after issuance costs and a present-value savings estimate of about $750,000. "Your total savings are $884,000 based on these assumptions," Tripp said during his presentation.

The presentation summarized the offering document investors would use (including county demographics and audited financials), compared public offerings versus private placements, and explained key assumptions: current market yields, issuance costs (attorneys, underwriter fees and rating…