New Mexico's State Board of Finance last week approved a winning bid from Williams Blair & Co. LLC for $137.2 million of state general obligation bonds approved by voters in November 2012. Proceeds will finance for capital projects across the state, including senior citizen centers, libraries, and facilities at universities and colleges.
The state received 10 bids for the bonds, from the winning offer of 1.775% to a high of 2.313%.
Gov. Susana Martinez, who chairs the Board of Finance, said the low bids on the 10-year bonds are a reflection of the state's strong credit.
"We continue to be gratified by the strong support that the investor community has shown in our bonds," she said. "To be able to sell our general obligation bonds at an all-in cost below 2% is extraordinary."
New Mexico's GO bonds are rated Aaa by Moody's Investors Service and AA-plus by Standard & Poor's.