Newbury's $1,715,000 General Obligation Bonds Net 2.388%

Diane Doyle, Treasurer/Collector, received competitive bids from bond underwriters on Thursday, January 23, 2020 for a $1,175,000 30-year general obligation bond issue.  Robert W. Baird & Co. Inc. was the winning bidder on the Bonds with an average interest rate of 2.388%. The Town received a total of five bids on the Bonds.  Bond proceeds will be used to finance the Police Station Construction project.

Prior to the sale, S&P Global Ratings, a municipal bond credit rating agency, affirmed the Town's long-term rating of 'AAA', the highest rating attainable.  The rating agency cited the Town's very strong economy, strong management with good financial policies and practices, strong budgetary performance, very strong budgetary flexibility, and very strong liquidity as positive credit factors.

The bids for the Bonds were accepted at the offices of the Town's Financial Advisor, Hilltop Securities Inc., 54 Canal Street, Boston, MA