Suffolk County Nets $188.7M In Bond Sale, Officials Say

HAUPPAUGE, NY - Suffolk County secured strong results in a $188.7 million bond sale this week, Comptroller John Kennedy Jr. said Thursday.

The county's tax-exempt bonds — a type of government borrowing used to fund public projects — drew $1.5 billion in bids through a competitive sale. Jefferies LLC, a New York-based investment banking firm, submitted the winning offer at a 2.96 percent interest rate, the lowest the county has seen in several years, officials said.

"This was a highly successful sale with great results for our taxpayers," Kennedy said in a statement. "Strong investor confidence in the county's credit and fiscal management helped us secure these favorable financing terms."

The proceeds will help fund Suffolk's capital improvement program, which includes upgrades to county facilities, roads, and other infrastructure. The bonds are scheduled to be delivered to investors on Nov. 5, according to the comptroller's office.

For more information, contact the Suffolk County Comptroller's Office at 631-853-5040.