In its first bond sale of the year, the Office of the State Treasurer announced this week that it sold $512.7 million of Various Purpose General Obligation Bonds at an interest rate of 2.39%, locking in one of the lowest, if not the lowest interest rates for long-term general obligation bonds in State history. While […]
State Treasurer Mike Pellicciotti proposed legislation today to better connect people with their lost property and to promote public awareness of unclaimed property in Washington. Over a billion dollars in unclaimed property has been turned into the state since records began in 1955. One in seven Washingtonians currently have unclaimed money sitting in the state […]
On Tuesday, the Washington State Treasurer’s Office sold $105 million dollars of refunding bonds to refinance $113 million of prior issued debt. The refinancing resulted in over $11 million dollars in debt service savings for the state. Treasurer Duane Davidson applauded the sale as a success. “The COVID-19 pandemic has put many state resources in […]
Olympia, WA – This week, the Office of the State Treasurer sold $75,190,000 million in Certificates of Participation (COP) in a competitive sale. Wednesday’s COP sale attracted strong interest, with bids from 10 institutions. Citigroup Global Markets Inc. submitted the winning bid, with the lowest true interest cost of 2.1189%. The COP sale took advantage of […]
This week, the Office of the State Treasurer sold $645.4 million in bonds. The sale was comprised of Various Purpose General Obligation (GO) bonds, Taxable GO bonds, and Motor Vehicle Fuel Tax (MVFT) & Vehicle Related Fees GO bonds. “I am very pleased with the strong reception that our bonds received, indicating a sincere desire […]
State Treasurer Duane Davidson made the determination last week that he will donate his salary increase to the state’s Budget Stabilization Account, also known as the state’s rainy day fund, as Washington aims to reduce government spending by implementing a wage freeze for state employees in the wake of expected revenue loss. A sitting member […]
On Monday, Moody’s Investor Services, S&P Global Ratings, and Fitch Ratings affirmed their credit ratings for the state’s General Obligation Bond (GO) and Certificates of Participation (COP) programs, as the state makes plans to issue new debt. Moody’s affirmed its highest score of Aaa for the state’s GO debt, and also upheld its Aa1 rating […]
Olympia, Wa – As the state’s Employment Security Department (ESD) is dealing with reported widespread fraudulent unemployment claims and the subsequent financial fallout, the State Treasurer’s office has received multiple inquiries regarding the loss of these funds. State Treasurer Duane Davidson ensures taxpayers that Treasury dollars are not impacted by this fraud. “The state’s Treasury […]
OLYMPIA, WA – On Wednesday, the Washington State Treasurer’s Office, on behalf of the State Finance Committee, sold $410.7 million dollars of refunding bonds, producing over $50.5 million dollars in debt service savings for the state over seven years. The refunding bonds were offered through negotiated sale to refinance $458.1 million of debt issued in […]
OLYMPIA, WA – In a bold move, Washington Treasurer Duane Davidson reduced the state’s treasury service fee, which will credit more earnings from investments to each recipient fund. This is the second time in less than a year that the Treasurer lowered the fee, now reducing it to another all-time low. Many state agencies are […]
