Refinancing saves school district $2 million

April 30, 2013

Taking advantage of recent low interest rates, the Issaquah School District saved more than $2 million April 24 when it refinanced 21.17 million of bonds originally sold in 2004.

The district also sold $55 million worth of new bonds that day.

Seattle-Northwest Securities assisted in the sale. Refinancing more than $21 million of old bonds meant the interest rate went down from 5.25 percent to 1.27 percent, meaning that about $2 million will be saved over the next six years.

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