Legislation could help debt service savings
<span style="font-family: Arial, sans-serif; font-size: 12px; line-height: 13.8000001907349px;">Legislation is in the works that could help the Government of Guam realize between $10 million to $12 million in total debt service savings through the refinancing of its 2007 general obligation bonds. </span>
January 8, 2015Updated: January 8, 2015
By KUAM News
By KUAM News by Ken Quintanilla
Guam - Legislation is in the works that could help the Government of Guam realize between $10 million to $12 million in total debt service savings through the refinancing of its 2007 general obligation bonds. GEDA administrator John Rios says because long-term interest rates are near historic lows and because Guam bonds are in high demand by investors, GovGuam could see the savings through the maturity date of 2037. He adds the authorizing legislation is in collaboration with Senator Dennis Rodriguez Jr. That also looks to take advantage of the low market rates resulting in close to $6 million more on debt borrowing.
Guam - Legislation is in the works that could help the Government of Guam realize between $10 million to $12 million in total debt service savings through the refinancing of its 2007 general obligation bonds. GEDA administrator John Rios says because long-term interest rates are near historic lows and because Guam bonds are in high demand by investors, GovGuam could see the savings through the maturity date of 2037. He adds the authorizing legislation is in collaboration with Senator Dennis Rodriguez Jr. That also looks to take advantage of the low market rates resulting in close to $6 million more on debt borrowing.