The United Nations Development Corp. is scheduled to return to the municipal bond market today with a $166.5 million refunding that officials say will dramatically reduce the corporation's debt service costs well into the next century.

The refunding will mark the public benefit corporation's first bond issue since 1986 and save it almost $2 million in debt service each year until 2023, corporation officials say.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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