Guam - Earlier this week the Public Utilities Commission approved the Guam Waterworks Authority's proposal to sell its bonds. Guam Economic Development Authority deputy administrator Mana Silva Taijeron says she along with members from GEDA, GWA, the Consolidated Commission on Utilities, the Department of Administration, BBMR, and the Governor's Office left off island a week ago to price and sell GWA's bonds.
She adds the team has since met with over 20 investors in New York City and Boston going over Guam's economy, GWA's perspective and how they plan to pay back the loan - all of which received positive feedback. Legislation recently signed into law authorized up to $195 million but GEDA states market conditions are in its favor to the point where they can probably issue $20 million less, or about a $173 million bond.
The bonds are expected to be sold by Thursday Guam time and closed by early December.