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Pennsylvania lands $950M bond

By , - Last modified: April 12, 2013 at 11:18 AM

Pennsylvania Budget Secretary Charles B. Zogby said the state has closed on a $950 million general obligation bond with Bank of America Merrill Lynch.

The lender was among six companies that offered bids. It was successful with a bid offering a 2.904 percent interest rate.

Zogby said the sale yielded the lowest-ever interest rate.

He credits the state's strong fiscal management and good bond ratings.

The bond will allow Pennsylvania to finance public capital projects, provide grants to local water and sewer projects and provide funding to the Growing Greener program

Stacy Wescoe

Stacy Wescoe

Writer and online editor Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 104. Follow her on Twitter at @morestacy and on Facebook. Circle Stacy Wescoe on .

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