Florida Cat Fund's $1.5B Deal Gets Go-Ahead

Sigo, Shelly
June 2006
Bond Buyer;6/1/2006, Vol. 356 Issue 32393, p1
Trade Publication
The article reports that the Florida Cabinet has approved the issuance of 1.5 billion dollars in revenue bonds by the Florida Hurricane Catastrophe Fund Finance Corp. to pay for the property reinsurance losses incurred in 2005. The tax-exempt bonds will be structured with maturities from 2008 to 2012 and will not be callable. According to Ben Watkins, director of the state Division of Bond Finance, the bonds will be sold through negotiation.


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