Wilton Bond Sale Has Positive Results After Strong Rating Report

WILTON, CT — Town Chief Financial Officer Anne Kelly-Lenz announced positive results for a Feb. 18, 2021 $3.66 million bond sale, which yielded competitive interest rates on the strength of Moody’s reaffirmation of Wilton’s rating of AAA, which is the highest rating available. The winning bid on the bonds, which carry a 10-year term, was 0.83 percent.

"We are very pleased with these results as they allow our debt service costs on these important infrastructure investments to be as low as possible and thereby minimize the impact on taxpayers," said First Selectwoman Lynne Vanderslice.

The bonds will primarily provide financing for the Wilton's road paving and replacement of the Wilton High School stadium track, according to Vanderslice.

"Today’s results were primarily driven by the Town’s exceptional credit rating and prudent long term financial management of the Town,' said Matthew Spoerndle, senior managing director of Phoenix Advisors and Wilton’s municipal advisor. "When you combine that with the fact that interest rates are at all-time low levels, you get a very strong outcome as a result."

The settlement date for the sale is Mar. 2, after which the funds become available to the Town.