City of Winston-Salem 2020 GO Bonds

The City of Winston-Salem is the fourth largest city in the State of North Carolina. Its financial strength, strong governance and administration, and diverse economy provide for the basis for the City’s AAA general obligation ratings by S&P, Moody’s and Fitch.

$90,645,000
City of Winston-Salem (North Carolina)
General Obligation Bonds, Series 2020A-E

Wye River Group Served as Independent Financial Advisor to the City of Winston-Salem for this Transaction.

Project Overview

Wye River Group has served as financial advisor to the City in connection with all of its financings, planning and debt implementation needs since 2014. To date, we have assisted the City in implementing 15 transactions including public offerings and direct purchase transactions of both tax-exempt and taxable obligations totaling more than $976 million.

Financing Overview

The City’s Bonds were structured as AAA/Aaa/AAA rated, tax-exempt and taxable municipal bonds.  The$66.475 million General Obligation Bonds (Series A,B,C) provided funding for capital improvement projects of the City and were sold via competitive public offering on June 9, 2020.  The $24.17 million General Obligation Refunding Bonds (Series D,E) were sold via negotiated public offering through R.W. Baird on June 10, 2020. The Bonds closed on July 14, 2020. The interest rates on the Series A,B,C Bonds are fixed for 20 years at a True Interest Cost of 1.75% and the Series D,E Bonds are fixed for 11.5 years at 0.82%.

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