City of Winston-Salem 2021 Installment Purchase

$20,000,000
City of Winston-Salem (North Carolina)
2021 Installment Purchase Contract

Introduction

The City of Winston-Salem is the fourth largest city in the State of North Carolina. Its financial strength, strong governance and administration, and diverse economy provide for the basis for the City’s AAA general obligation ratings by S&P, Moody’s and Fitch.

Project Overview

Wye River Group has served as financial advisor to the City in connection with the planning and implementation of all of its tax-exempt financings since 2014. To date, we have assisted the City in completing 15 transactions including public offerings and direct purchase transactions of both tax-exempt and taxable obligations totaling nearly $1 billion.

Financing Overview

The City’s latest financing was structured as a tax-exempt installment purchase contract with a special equipment lease company affiliated with a large international bank. The proceeds will provide funding for the acquisition of equipment to be used by the City in the fulfillment of its general governmental purposes.  The financing, which was not rated, had an interest rate of less than 0.80% and a term of approximately 5 years.