Grant Street Group Hosts Bond Auction for Commonwealth of Pennsylvania

May 22, 2007

pennsylvaniaThe Commonwealth of Pennsylvania conducted a $373 million competitive G.O. bond sale on Grant Street Group’s MuniAuction website. Six Wall Street firms participated in the sale. During the course of the Open Auction, a total of 12 bids were submitted and the auction was extended for over 4 minutes from its scheduled end time. Commonwealth officials, as well as their Counsel and Financial Advisor, were able to watch in real time the Open Auction bidding that resulted in the Commonwealth saving $374,000.