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Port Commission Bond Refunding Request

Summary

The EDGE board approved the refinance of $40,795,00 Series 2011 bonds that were issued to fund the public portion of the Electrolux site infrastructure improvements inside Pidgeon Industrial Park. The bonds were originally financed jointly by the City of Memphis and Shelby County governments.

Refinancing these bonds will lock in today's rates for the remaining balance of $29 million. The debt obligation will be equally shared by the City of Memphis and Shelby County governments.

The refinancing is expected close by mid-June 2022.

Bond Amount:

$29,000,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable