MARTA is doing some fancy financing to save money.
The transit agency’s Board of Directors voted this week to replace $176.8 million in variable rate bonds with a combination of fixed rate bonds and a new issue of $117.5 million in variable rate bonds.
The two transactions will reduce MARTA’s variable rate debt by $59.3 million, lower annual interest costs by $171,000 and provide $1.2 million in net present value savings, MARTA General Manager & CEO Jeffrey Parker said.
“We are very proud…
Atlanta Business Journal
New MARTA financial transactions will reduce debt