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Citizen's Bonds Sell Out Quickly

Vermont’s latest offering of Citizen’s Bonds sold out in a matter of hours this week and according to State Treasurer Beth Pearce the sale was driven by strong interest from Vermonters, who are given first priority.  Citizen’s Bond sales totaled $25 million.  94 percent of that amount was purchased by Vermont retail investors. The bonds were available in denominations of $1,000.

The Citizen’s Bonds were one of three bond offerings this week.  The state also sold $42.8 million of Series B bonds and $18.9 million of Series C bonds.  These were sold on a competitive basis to large institutional investors.  13 bids were submitted for the Series B bonds and the winning offer came from Wells Fargo.  The Series C bond offering fielded 12 bids, and was won by Morgan Stanley.

According to the treasurer’s office the Citizen’s Bonds and Series B bonds will be used to finance a variety of projects, including the new Waterbury State Office Complex and the Vermont State Hospital, which were damaged in Tropical Storm Irene.

The Series C bonds will be used to refinance existing bonds.

Steve has been with VPR since 1994, first serving as host of VPR’s public affairs program and then as a reporter, based in Central Vermont. Many VPR listeners recognize Steve for his special reports from Iran, providing a glimpse of this country that is usually hidden from the rest of the world. Prior to working with VPR, Steve served as program director for WNCS for 17 years, and also worked as news director for WCVR in Randolph. A graduate of Northern Arizona University, Steve also worked for stations in Phoenix and Tucson before moving to Vermont in 1972. Steve has been honored multiple times with national and regional Edward R. Murrow Awards for his VPR reporting, including a 2011 win for best documentary for his report, Afghanistan's Other War.
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