By LINDSAY CAREY STAFF WRITER The Town of Southington’s Department of Finance released the results of the town’s recent bond sale and sale of bond anticipation notes (BANs). The $26.92 million bond sale and $12 million sale of bond anticipation notes attracted several bidders, which town officials believe is based on the town’s good performance reviews from the Standard & Poor’s Corporation (S&P). S&P, a top Wall Street Rating Agency firm, renewed Southington’s rating of AA+/Stable Outlook, which is the second to highest bond rating awarded by the firm. The Town received seven bids on the bonds and went with William Blair & Company LLC for 2.36 percent. “The bonds will replace BANs and provide new financing for various school, sewer and capital improvement projects,” said a press release from the town. “The largest part of the issuance is to finance the Town’s Middle School project.” Five bids came in for the new notes and TD Securities won the bid for the notes at a net interest cost of 0.16 percent. Town Councilor Michael Riccio praised the results of the sale and attributed it to the S&P rating during a speech at the Southington Chamber of Commerce “State of the […]
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