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College refinances $63 million building bond

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Posted on April 26, 2012 |
By Andrea Suozzo



MIDDLEBURY — With interest rates at a historically low level, it’s not just homeowners who are jumping at the opportunity to refinance mortgages: this spring, Middlebury College also refinanced $63.5 million worth of facilities debt.

The Vermont Education and Health Buildings Financing Agency (VEHBFA), which helped the college refinance its bonds, reports that the college will see about $11 million in savings at present value, a refund of about 18 percent of the total cost.

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