HomeMy WebLinkAbout00 - Council Announcement - PowerpointiA�
Transportation Corridor Agencies
Sound Fiscal Practices
Reduce Debt by $1.275
TCA plans for further reductions,
totaling $3.1 billion by 2030
May 23, 2023
Council Announcements
The TC3011 Roads°
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Recent bond refinancings, early paydowns, and open market buybacks have produced
substantial interest savings and decreased outstanding principal for TCA, further enhancing
the Agencies strong financial position.
Since July 2019, TCA has
reduced debt and saved over
$1 billion
in interest
Since July 2022, early repayment
of bonds has decreased
outstanding principal by
$275 million
Debt reduction of
$1.275 billion
A step-by-step breakdown - How we reduced debt by $1.275 billion
Recent bond refundings replaced higher interest rate bonds with lower interest rate bonds for
a $700 million savings - without extending bond maturity dates
✓ Early paydown of $125 million bond principal in July 2022 saved $180 million in interest
Early paydown of $150 million in bond principal through Open Market Bond Buyback
saved $150 million in interest
By 2030, TCA plans to pay down another $980 million of bonds early, saving an
2030 additional $860 million in interest.
This future debt reduction, when combined with the current reductions of
$1.275 billion, will collectively reduce debt by $3.1 billion by 2030.