Low Bond Rates Could Save Tennessee Millions

The State of Tennessee has just completed the biggest sale of general obligation bonds in its history, closing on approximately 658 million dollars in bonds. Those bonds were sold at a record setting low true interest rate of one point four one percent, which could save the State millions. A majority of those bonds were issued to refinance certain outstanding bonds to take advantage of the low interest rates. Tennessee’s debt level is one of the lowest, if not the lowest, of any state. The Volunteer State is also one of just 13 states with a triple A credit rating from each of the three major credit rating services.