GEDA board approves underwriter selection - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA board approves underwriter selection

by Mindy Aguon

Guam - The Government of Guam is well on its way to pursue a $344 million bond on the market next month. Today, the Guam Economic Development Authority board approved underwriter services with not just one company, but three, who will assist the territory in obtaining the bond that the Calvo Administration is hoping to obtain to pay tax refunds and reduce the deficit. 

GEDA's Lester Carlson says the staff recommended a collaborative effort to get the strengths of Barclays Capital as the senior manager and Piper Jafferay and Citi Group Global to be co-managers of the underwriting services for the Government of Guam. "The embarking upon the strengths the three firms collectively have with not only the institutional marketing with the 50 states, but also in the foreign markets which is kind of a new area for municipal bonds is one of the driving reasons why."

The three companies will work together to fast track putting together a finance package together as the administration is hoping to go out to the bond market as early as next month.

  • NEWS HEADLINESMore>>

  • Students no longer required to use mesh bags

    Students no longer required to use mesh bags

    More than decade later and it's back to the backpacks for the island's public school children. They'll be trending at local middle and high schools next school year, after DOE announces students won't have to wear mesh. It was back in 2005, after a SimonMore >>
    More than decade later and it's back to the backpacks for the island's public school children. They'll be trending at local middle and high schools next school year, after DOE announces students won't have to wear mesh. It was back in 2005, after a Simon More >>
  • Agat, Port Authority take top honors in float/entry competition

    Agat, Port Authority take top honors in float/entry competition

    ?Congrats to the winners of today's Liberation Day Parade float/entry competition! Agat won for Best Village Float, the Port Authority won for Best GovGuam Float, and the Barrigada Municipal Planning Council won for Best non-government/civic/community/nonMore >>
    ?Congrats to the winners of today's Liberation Day Parade float/entry competition! Agat won for Best Village Float, the Port Authority won for Best GovGuam Float, and the Barrigada Municipal Planning Council won for Best non-government/civic/community/nonMore >>
  • Stream the Liberation Day Parade LIVE

    Stream the Liberation Day Parade LIVE

    Happy Liberation Day, Guam! KUAM and our friends at PBS Guam are bringing you coverage of today's parade LIVE from Hagatna. Experience all the amazing village pride, floats, marching units, cultural presentations, community groups and much more on any dev

    More >>

    Happy Liberation Day, Guam! KUAM and our friends at PBS Guam are bringing you coverage of today's parade LIVE from Hagatna. Experience all the amazing village pride, floats, marching units, cultural presentations, community groups and much more on any dev

    More >>
Powered by Frankly