City of Winston-Salem 2022 Water & Sewer Revenue Bonds

City of Winston-Salem (North Carolina)
Water & Sewer System Revenue Bonds
Series 2022


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 16 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 single series of AAA/Aaa/AAA rated, tax-exempt revenue bonds sold via negotiated, public offering on January 12, 2022. R.W. Baird served as the underwriter for the bonds. The interest rates on the bonds are fixed for the 30-year term of the financing and resulted in a True Interest Cost (TIC) of 2.33%.  The financing closed on January 24, 2022.