• New MARTA financial transactions will reduce debt

    7 monthes ago - By Biz Journals

    MARTA is doing some fancy financing to save money.
    The transit agency's Board of Directors voted this week to replace $176.8 million in variable rate bonds with a combination of fixed rate bonds and a new issue of $117.5 million in variable rate bonds.
    The two transactions will reduce MARTA's variable rate debt by $59.3 million, lower annual interest costs by $171,000 and provide $1.2 million in net present value savings, MARTA General Manager & CEO Jeffrey Parker said.
    “We are very proud...
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