You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Woburn

Refinancing yields $1.5m savings

Continue reading below

The city will save about $1.5 million as a result of its recent refinancing of a $12.6 million bond, according to Mayor Scott D. Galvin. The savings will be realized over the remaining 12 years of the 20-year bond, which was used to fund construction of the new high school. Robert W. Baird & Co. was selected for the refinancing with a low bid that provided the city with a new interest rate of 2.22 percent, Galvin said. The city undertook a similar refinancing last summer through which it will save $465,765 over 13 years. “We are in a low-interest environment, and our strong bond rating allowed us to take advantage of these rates and deliver a substantial savings for our taxpayers,” Galvin said. Woburn has an Aa2 bond rating from Moody’s Investor Service.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.