Fla. Insurer To Seek $3B In Financing

Sig0, Shelly
March 2006
Bond Buyer;3/31/2006, Vol. 355 Issue 32351, p1
Trade Publication
The article reports that the Florida Citizens Property Insurance Corp. has formulated a finance plan amounting to three billion dollars to meet its obligations for the upcoming hurricane season. Half of the funding was taken from auction- and variable-rate bond and half was acquired through a standby product or a letter of credit by the approval of Citizen's Board of Governors. Their goal was to be in the bond market by mid-June.


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