The MARTA Board of Directors has approved a resolution to refund $283 million of its bonds, which means the Authority will save approximately $48.1 million in debt payments over the next 18 years.    

According to MARTA’s Chief Financial Officer Gordon Hutchinson, “MARTA has reduced its borrowing costs by over $80 million in the last three years. This good news is on the heels of our bond rating upgrade from Moody’s. We are very pleased that we can continue to demonstrate to our stakeholders that we are good financial stewards.”

Due to favorable market conditions, MARTA was able refund the balance of its Series 2007B bonds, which carried an interest rate of 4.7 percent. The new series 2016B bonds have an interest rate of 3.3 percent.