7 News Belize

Municipal Bond Much Better Than Expected
posted (November 27, 2012)
The first tranche of the municipal bond has been oversubscribed! That means they've gotten offers to buy more bonds than they're selling at this time.

In a quite remarkable turn of events - the Mayor today reported that they have gotten offers to buy 16.5 million dollars in bonds. That's 16.5 million dollars in offers - when the first tranche offering is for only ten million dollars.

It's a major sign of confidence - and a major boost for city hall - which now has the enviable task of picking who gets how much of the first tranche offering. The second tranche of 5 million is scheduled to be deployed next year.

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7 News Belize