Bankrupt Alabama county says has deal on $105 mln of bonds

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Alabama's bankrupt Jefferson County has reached a deal with creditors JPMorgan Chase and Bayerische Landesbank covering $105 million of general obligation warrants, county officials said on Monday.

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The agreement, one of a series the county has reached since filing a landmark $4.2 billion bankruptcy in late 2011, covers the county's 2001b GO series and was expected to be approved on Thursday by the Jefferson County Commission.

 

The deal saves the county $2 million in fees and interest payments and shifts its variable rate to a fixed interest rate, officials said.

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