MUD No. 152 Refinances Debt to Cut Interest Rate

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.