Successful General Obligation Bonds Sale

Successful General Obligation Bonds Sale
June 5, 2019
10:45 am

Smithfield, NC -- Yesterday, Johnston County sold $20 million of general obligation bonds from the $76 million November 2018 voter-approved education referendums.  The low bidder was Bank of America Merrill Lynch at a fixed 20 year “all-in” rate of 2.46%.  There were 11 bidders.

According to County Manager, Rick Hester, “The County’s strong credit ratings and several other factors played into this successful sale.  Those factors include, but are not limited to, financial policies the Board of Commissioners put in place, the impressive job the County’s finance team does, and a vibrant local economy.  Plus, it didn’t hurt that interest rates have recently dropped some.”