Guam - The Guam International Airport Authority's board of directors approved a resolution this afternoon during a special meeting as it prepares to the go to the bond market following a visit by Moody's Investors this week along with the signage of Bill 1-2s in law. The special legislation would help aid the airport as it seeks to refinance and refund its 2003 revenue bonds.
"The authority is scheduled to depart the 19th to engage in a four-city, four-day investment road show and then pricing in New York. And with God's will, we're hoping to return successful," said airport executive manager Chuck Ada. He adds that says roadshow would take place in San Francisco, Chicago, Boston and New York.
He adds if successful, by September 12, the airport should have $110 million deposited in its bank account for the 19 projects listed in the bond bill and in the airport's master plan. By next week, management should complete an electronic presentation on the financial conditions and the airport's intentions that will posted on its website.