GEDA makes progress with refinancing GMH loan - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA makes progress with refinancing GMH loan

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by Krystal Paco

Guam - Guam Economic Development Authority deputy administrator Mana Silva Taijeron tells KUAM News GEDA is making progress with refinancing the Guam Memorial Hospital's loan.

As we've been reporting, public law allows GMH to borrow up to $25 million to assist with making vendor payments and pay off other operational costs.

Earlier this month, Taijeron says an evaluation committee received two bids  for the refinancing.

Although she can't discuss the specifics, the GEDA board will have to approve the terms before GMH can proceed.

Taijeron anticipates the board will address the issue at their November meeting.

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