Medfield $9,500,000 Bonds Net 3.24%

Georgia Colivas, Town Treasurer, received competitive bids from bond underwriters on Thursday, September 12, 2013, for a $9,500,000 20-year bond issue. Stifel, Nicolaus & Co., Inc. was the winning bidder on the Bonds with an average interest rate of 3.24%. The Town received a total of 9 bids. The bond proceeds will be used to finance municipal garage construction.

Prior to the sale Moody’s Investors Service, a municipal bond credit rating agency, affirmed the Town’s Aa1 rating. The rating agency cited the Town’s healthy financial position with consistent reserve levels, stable tax base with strong wealth levels and modest debt profile with above average payout as positive credit factors.

The bids for the Bonds were accepted at the offices of the Town’s Financial Advisor, First Southwest Company, at 54 Canal Street in Boston, Massachusetts.