$36M Bonds Sold, $14.5M Refinanced

Johnston County sold $36 million in general obligation bonds on May 11th. The bonds were sold at a historically low fixed rate.

This was the final sale from the November 2018 voter-approved education bond referendums for Johnston County Public Schools and Johnston Community College. Through competitive bidding, Piper Sandler and Company was the low bidder at a fixed interest rate of 1.59 percent. There were 8 bidders.

Also, the County accepted bids to refinance bonds issued in 2014. There were 7 bidders. The winning bidder was RW Baird. The average rate on the refinanced bonds was reduced from fixed rates of 3.48% to 1.67%. The County will save approximately $650,000 in interest expense due to refinancing at lower rates.