Louisiana Will Save Millions By Refinancing State Debt

Louisiana has refinanced $649 million in highway project borrowing to take advantage of lower interest rates.

According to the AP, treasurer John Kennedy’s office said recently that the refinancing, done this week, will save the state $109 million over 26 years in lessened interest payments on the debt.

Under state law, the savings can only be used to pay for a list of transportation projects that were financed by the bonds, according to the treasurer’s office.

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