BOSTON -- The Massachusetts Municipal Wholesale Electric Corp. issued about $98 million in variable-rate debt last week as part of a broad refinancing.

Officials at the corporation, which has refunded a large portion of its $1.4 billion of outstanding debt since 1992, said that through a modified Dutch auction and a well-received tender offer they will reduce their yearly debt service requirements by about $3 million.

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.