Dade County, Fla., has become the first municipality to enter into a so-called step-up swap agreement, according to the firm that arranged the swap.

In mid-September, the Dude County Water and Sewer Authority entered into a $40 million, seven-year fixed-to-floating interest rate swap with GB Derivative Products Co.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.