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Puerto Rico Announces Underwriters for Upcoming General Obligation Bond Financing; Reschedules Webcast for February 18

March 1, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- The Government Development Bank for Puerto Rico announced that the Commonwealth of Puerto Rico expects to issue General Obligation (GO) bonds in the near term to refinance certain outstanding obligations and address the government's liquidity needs.

GDB Chairman David H. Chafey said: "We have completed significant measures in the past month to improve our fiscal health and are ready to access the market with a new issuance of GO bonds."

In order to fully address questions arising from rating agencies and other recent developments, the Commonwealth's previously announced quarterly webcast has been rescheduled for February 18, 2014, at 2PM EST. The webcast will provide additional details about the Commonwealth's financing plan.

Barclays, RBC Capital Markets and Morgan Stanley have been selected as joint lead managers for the upcoming GO bond issuance, with Barclays acting as lead left book-running manager.

Keywords for this news article include: Banking and Finance, Government Development Bank for Puerto Rico GDB, Government Development Bank for Puerto Rico (GDB).

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Source: Investment Weekly News

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