Stamford went with taxable Build America Bonds last week in a competitive $50 million general obligation deal that called for both tax-exempt and BAB bids. Barclays Capital won the bonds with a 4.739% true interest cost bid that netted out to 3.09% when the federal 35% interest cost subsidy was factored in. With the subsidy, the true interest cost was 29 basis points lower than the lowest tax-exempt bid — 3.38% — submitted by Merrill Lynch & Co.

The bonds, with a final maturity in 20 years, priced on July 28, a day in which 20-year Treasuries yielded 4.54%.

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