By CDE Lightband
CLARKSVILLE, Tenn. – CDE Lightband recently saved its ratepayers over $7 million by issuing new bonds at a much more attractive interest rate, reducing future interest and principal payments on existing debt. These bonds finance the significant capital investment required to build and maintain CDE Lightband’s electric distribution and fiber optic infrastructure.
CDE Lightband management has been diligent in monitoring the bond market since 2013 and worked closely with its underwriters to select the most opportune time to refund the 2004 and 2007 issued bonds. In January 2014, the 2004 bonds were refunded and in January 2015, the 2007 bonds were as well. CDE saved more than $5.2 million in today’s dollars and sliced more than $7.3 million of its long term debt.
“We were very fortunate with our timing of going to market and are excited about saving our customers over $7 million,” said Brian Taylor, CDE Lightband general manager.
CDE Lightband is the municipal power provider for the city of Clarksville, TN and offers digital television service, Gigabit Internet service and VoIP telephone service. CDE Lightband provides electric services to approximately 65,000 customers and broadband services to approximately 18,000 customers.