Top-Rated Hilton Head Island Seeks $35 Million Bonds for Fire HQ

Hilton Head, a historic island off of South Carolina known for its golfing and 12-mile beachfront, is tapping the municipal bond market to fund a new headquarters for firefighters.

The town plans to sell $35 million of general obligation bonds, according to bond documents. It’s the first time since 2019 that Hilton Head has issued bonds backed by the local government’s revenue.

The offering comes at an uncertain time for global markets, with the Iran war rattling even safe-haven investments. State and local government debt has weakened alongside US Treasuries this month. Yields for benchmark 10-year muni debt increased to ...