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  • Writer's pictureCity of Concord NH

City of Concord, NH Sells Tax-Exempt General Obligation Bonds

City Sells $13,415,000 Tax-exempt General Obligation Bonds net 3.053%
Standard & Poor’s Assigns AA+ Rating in Connection with Sale

The City of Concord, NH, is very pleased to report that it received competitive bids on Wednesday January 24, 2024 for a $13.4 million, 20-year general obligation bond issue. 

The City received 13 bids in connection with the sale, and Bancroft Capital, LLC purchased the bonds at an average interest rate of 3.053%.  Bond proceeds will be used to fund various capital improvement projects approved by the City Council.

Prior to the sale, Standard & Poor’s Global Ratings, a municipal bond credit rating agency, affirmed the City’s bond rating of AA+.  The agency cited the City’s strong economy, strong budgetary performance, very strong budgetary flexibility, very strong liquidity, very strong management and very strong institutional framework as positive credit factors.

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