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CARMEL, IN – On December 11, 2020 the Indiana Municipal Power Agency’s (“IMPA”) Board of Commissioners authorized IMPA to refund $12,845,000 of the Agency’s Power Supply System Refunding Revenue Bonds, 2010 Series B (the “2010 B Bonds”). The 2010 B Bonds that are scheduled to mature on January 1, 2022 ($6,265,000) and 2023 ($6,580,000) will be called on January 14, 2021. IMPA is not issuing new bonds to refund the 2010 B Bonds. The interest rate on the 2010 B Bonds is 5%. IMPA expects to save approximately $950,000 as a result of the refunding.
“For over 35 years, IMPA has provided a low-cost, reliable, and environmentally-responsible power supply,” commented Raj Rao, IMPA President and CEO. “This refunding is another opportunity to bring cost savings to member communities and the retail customers they serve.”
For more information about IMPA and IMPA’s financial position, visit www.impa.com/financial