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Pennsbury Expects To Save Money By Refinancing Debt

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By

Tom Sofield

taxesThe Pennsbury School District is expecting to save money by refinancing some of its debt.

The school board voted last week to refinance roughly $18 million from a 2010 bond issue. The refinancing, which is expected to be finished by fall, could save the district approximately $815,000.

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“It’s like refinancing your home mortgage,” explained Zach Willard of PFM Group, the district’s bond council.

Willard said the refinancing transaction would be broken up into several transactions smaller than $10 million. Willard said breaking the refinancing down would make it easier for the district to receive savings.

Pennsbury has refinanced bonds in the past.

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Tom Sofield

Tom Sofield

Tom Sofield has covered news in Bucks County for 16 years for both newspaper and online publications. Tom’s reporting has appeared locally, nationally, and internationally across several mediums. He is proud to report on news in the county where he lives and to have created a reliable publication that the community deserves.