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Bond proceeds provided for refinancing of existing debt issued through the City of New Haven, and to finance renovations and improvements to properties owned or leased by the Corporation.
The Series A issue was structured as a fixed rate transaction, with a 20-year amortization and a 10-year put. The issue was a direct bank purchase by Capital One Municipal Funding, Inc. The net interest cost for the transaction was 5.00%.
For further information, search EMMA for this issue.