Wilton Sells $11.7 Million Worth Of Bonds

WILTON, CT — Wilton sold $11.7 million worth of bonds that will fund the Miller-Driscoll school project and help fund road restoration.

“It was great to see the number of bidders interested in buying the Town’s bonds,” said First
Selectman Lynne Vanderslice,

The winning bid was for an interest rate of 3.03 percent by Hutchinson, Shockey, Erley & Co from Chicago, Illinois, which bested eight other bidders. The bond is for 20 years.

“Moody’s continues to recognize the work town officials have done to continually improve Wilton’s financial health over time,” said Matthew Spoerndle, senior managing director of Phoenix Advisors and Wilton’s municipal advisor. “Today’s results were driven by the Town’s exceptional credit rating which is a direct result of the prudent and conservative long term financial management of the Town.”

Moody's gave Wilton a Aaa bond rating, the highest available. It allows the town to secure lower interest rates when selling bonds. It cited the town's affluent residential tax base and healthy reserves.

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