Entries by ost_admin

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Municipal Bond Market Favors Washington in Bond Sale

On Tuesday, the Washington State Treasurer’s Office sold $105 million dollars of refunding bonds to refinance $113 million of prior issued debt. The refinancing resulted in over $11 million dollars in debt service savings for the state. Treasurer Duane Davidson applauded the sale as a success. “The COVID-19 pandemic has put many state resources in […]

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Financing Takes Advantage of Low Rates to Save the State Millions

Olympia, WA – This week, the Office of the State Treasurer sold $75,190,000 million in Certificates of Participation (COP) in a competitive sale. Wednesday’s COP sale attracted strong interest, with bids from 10 institutions. Citigroup Global Markets Inc. submitted the winning bid, with the lowest true interest cost of 2.1189%. The COP sale took advantage of […]

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Strong Demand for Washington State Bonds

OLYMPIA, WA – The Office of the State Treasurer sold $528.8 million in bonds on Tuesday, September 26th. The bonds were split into three sales: one sale of new money general obligation bonds, a second sale of taxable general obligation bonds and the third sale of refunding general obligation bonds. The refunding sale of approximately […]

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$24 Million COPs Sold For Washington Government Projects

OLYMPIA, WA – Washington’s Office of the State Treasurer (OST) successfully sold almost $24 million in Certificates of Participation (COPs) on September 12th.  The offering attracted 12 different bidders with Morgan Stanley & Co, LLC (Morgan Stanley) offering the lowest bid. The COPs will help finance equipment needed by 18 local governments across Washington. Morgan […]

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Washington Keeps Strong Bond Ratings

Olympia, WA – State Treasurer Duane Davidson announced today that the three national debt rating agencies have reviewed Washington’s financial situation and have confirmed the existing bond ratings for the State’s Long Term General Obligation (GO) bonds. Washington has very strong ratings: Fitch AA+ with stable outlook, Moody’s Aa1 with stable outlook and S&P AA+ […]