CT regularly refinances bond debt
http://www.bloomberg.com/news/2010-...bonds-after-boosting-top-income-tax-rate.html
Connecticut, plans to offer $600 million in tax-exempt bonds next week.
The offering will be split, with $200 million for capital improvements and
$400 million to refinance existing debt, and save the state $16 million without extending maturities, Moody’s Investors Service said.
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The state Treasury will begin selling $715 million in general obligation bonds Friday. Bonds from the sale will be used for a variety of new projects, according to the statement.
Nappier said $335.7 million will be used for school construction grants; $54.6 million will fund improvements to state community technical colleges and $30 million will be used to replenish the Capitol Improvement Fund. About $79.7 million will go to other building projects, the statement said.
Another $165 million will be used to refinance the state’s debt at lower interest rates, the statement said.
http://www.ctnewsjunkie.com/ctnj.php/archives/entry/connecticut_keeps_its_aa_bond_rating/