Press Release

February 28, 2023

For Immediate Release

 

For Further information, contact

            Tiffany Sheehan

            Treasurer/Collector

50 North Franklin Street

Holbrook, MA  02343

Tel: (781) 767-4316

 

Town of Holbrook, MA $3,450,000 General Obligation Bonds Net 3.781%; $3,127,808 Bond Anticipation Notes Net 3.582%

 

Tiffany Sheehan, Town Treasurer, received competitive bids from bond and note underwriters on Tuesday, February 28, 2023 for a $3,450,000 27-year bond issue and a $3,127,808, 358-day bond anticipation note issue. Fidelity Capital Markets was the winning bidder on the Bonds and the Notes with an average interest rate of 3.781% on the Bonds and a net interest cost of 3.582% on the Notes. The Town received 4 bids on the Bonds and 4 bids on the Notes. Bond and Note proceeds will be used to finance various capital projects.

Prior to the sale, S&P Global Ratings, a municipal bond credit rating agency, affirmed the Town’s long-term rating of ‘AA-’. The rating agency cited the Town’s steadily growing local economy, conservative management team, and very strong financial position positive credit factors.

The bids for the Bonds and Notes were accepted at the offices of the Town’s Financial Advisor, Hilltop Securities Inc., at 54 Canal Street in Boston, Massachusetts.

 

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