GWA bonds sold in Big Apple

by Sabrina Salas Matanane

Guam - It's good news for Guam Waterworks Authority ratepayers as Consolidated Commission on Utilities chairman Simon Sanchez confirmed with KUAM News this morning that GWA bonds were successfully sold in New York. According to Sanchez, who is currently in New York City, the bonds were sold this morning Guam time at 21% lower than projected coming in at 5.6%, selling $195 million worth of bonds.

This means that debt service payments will be lower and ratepayers will also see a lower rate increase of 20% for residential customers and 50% for businesses over the next five years