The Rhode Island Turnpike and Bridge Authority has completed a bond refinancing that will generate approximately $11.6 million in gross savings, money the authority says will be redirected toward capital improvements across its bridge system. The transaction, which closed July 9, refunded $86.19 million in outstanding Series 2016A Motor Fuel Tax Revenue Bonds and produced $6.6 million in net present value savings — representing 7.7 percent of the refunded bonds. A substantial share of the savings will be realized over the next two fiscal years: approximately $5.3 million in fiscal year 2027 and $4.3 million in fiscal year 2028. The bonds were issued with an insured AA rating from S&P Global Ratings. The deal attracted strong investor demand, with 26 institutional investors placing 124 orders totaling more than $460 million, along with approximately $2.9 million in retail investor orders.