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Welcome, Thursday, September 9, 2010 |
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Second Senior Managed Financing for a State-Wide Entity in Michigan $61.2 million in bonds issued on behalf of the State of Michigan Department of Transportation. Second senior managed financing for a state-wide entity in Michigan In early May, Loop Capital Markets also completed its second senior managed financing for a state-wide entity in Michigan. The $61.2 million in bonds were issued on behalf of the State of Michigan Department of Transportation. By locking in rates on taxable escrow investment securities at an opportune moment, guided by our daily tracking system, we were able to generate savings levels of 3.65% of the refunded par or $2.4 million, both significantly beyond expectations.
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