The Government Development Bank for Puerto Rico Tuesday announced that the commonwealth of Puerto Rico expects to issue general obligation bonds in the near term to refinance certain outstanding obligations and address the government's liquidity needs and will detail its plans in a webcast Feb. 18.
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, 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.
