re­Fi­nanc­ing saves $7.7 mil­lion

Austin American-Statesman - - LOCAL BRIEFING -

The Texas State Sys­tem, which in­cludes Texas StateSan Mar­cos and seven other in­sti­tu­tions, has re­fi­nanced $100 mil­lion of con­struc­tion debt for a sav­ings of about $7.7 mil­lion.

“With in­ter­est rates be­low 3 per­cent, we de­cided to move ag­gres­sively and re­fi­nance the sys­tem’s bond debt,” Chan­cel­lor Brian McCall said in a state­ment.

The re­fi­nanc­ing also saves more than $800,000 in debt on con­struc­tion projects at An­gelo State Uni­ver­sity that were fi­nanced be­fore An­gelo State moved to the Texas Tech Uni­ver­sity Sys­tem in 2007.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.