Texas 5.5 billion Short Term Note Sale Best in Texas History

Texas’ Comptroller says that the Short-Term note sale is the best in Texas History. Comptroller Susan Combs says that the state’s highly anticipated sale of 5.5 billion in Tax and Revenue Anticipation Notes achieved an interest rate of 0.48 percent, the lowest rate the state has ever received on its annual sale of short-term notes. Buyers bid more than twenty-eight billion to obtain a portion of the 5.5 billion in notes Texas offered for sale Tuesday. The demand for the notes drove the interest rate down to a historic low. Combs says “the sale shows the financial community’s utmost confidence that Texas is a great investment, and our state government continues to be fiscally responsible by spending taxpayer dollars wisely.” The TRANs will be repaid August 31st, 2010.