JFK High financing deal closed

by Sabrina Salas Matanane

Guam - It's officially a done deal and the money is good to go for the construction of a new John F. Kennedy High School. At 2am Guam time, the financing for the project was closed in California. The Government of Guam will be making a $6.7 million annual payment at 6.8% until 2040.

The certificate of bond for the new JFK High was sold in New York in August at $65 million, however, the principle amount with interested is estimated to cost about $157 million.