STATE SAVES $679 MILLION IN NEAR FUTURE DEBT SERVICE

New Jersey will save a significant amount in debt service in the very near future. A spokesman for the Treasurer’s office spoke with Bloomberg, and said the state will save about $679 million in the next four years because of a recent restructuring. The move yielded higher saving than initially thought. The article says the savings is $60 million this year and $605 for the following three. According to a Merrill Lynch analysis, the restructuring will add $856 million between 2014 and 2020 in debt cost, according to the report.

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