Spaceport America Bond Refinancing to Save $8.2 Million

Sunset at the “Virgin Galactic Gateway to Space” terminal hangar facility at Spaceport America. (Credit: Bill Gutman/Spaceport America)

SIERRA COUNTY, NM, June 25, 2021, (NMSA PR) — The New Mexico Spaceport Authority, an agency of the State of New Mexico, and operator of Spaceport America, has completed a $35.4 million refunding of its Public Project Revolving Funds of 2009 and 2010. The refinancing of the bonds significantly reduced the interest rates from about 4.50% to less than 0.80% per annum, which results in a savings of $8.2 million for New Mexico taxpayers over the remaining nine years of debt service payments.

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