Calvo: bond should sell in next few days

by Nick Delgado

Guam - He's back from marketing the bond to investors in Boston and New York, and now Governor Eddie Calvo is optimistic that all will go well. He expects the bond to sell in the next few days and is setting a timeline for tax refunds to be out between the first week of December.

Calvo says for those who are skeptical, don't be. "But then again, it means that come time for the selling of that bond, to what degree and how many are interested in purchasing this bond," he shared with KUAM News. "I feel very good about it, but until it happens, I think that's when we can get a clear sign of what type of interest rate we can get. You've been waiting a long time - we're going to get these tax refunds out and we're going to get these tax refunds out between the 1st and 5th of December."

Calvo expects record low interest rates and is aiming below 5.5%. He says many of the credit rating agencies and investors found the Administration's actions as smart borrowing and feels Guam is in the position in the not-so-distant future where it can increase its credit rating.

Meanwhile, Governor Calvo signed Bill 141 into law which provides a business privilege tax exemption for child care centers and group child care homes.