On August 28, 2019, Harris County MUD No. 152 successfully refinanced its debt in order to take advantage of today’s low interest rates. The District issued $4,060,000 in unlimited tax refunding bonds to refund and redeem a portion of its outstanding debt.
By doing the refinancing, Harris County MUD No. 152 saved $261,198 net of costs, for annual savings in its debt service expense of $37,314.
The District was able to secure bond insurance on its new bonds, causing the rating on the bonds to be “AA.” The District carries an underlying rating of “A+” from Standard & Poor’s.