TITLE

Florida Cat Fund Readies Its First Sale, $1.35B to Pay Off '05 Insurance Losses

AUTHOR(S)
Sigo, Shelly
PUB. DATE
June 2006
SOURCE
Bond Buyer;6/13/2006, Vol. 356 Issue 32401, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of the Florida Hurricane Catastrophe Fund Finance Corp. to sell $1.35 billion of tax-exempt, fixed-rate revenue bonds in the first issuance of debt since the state-run reinsurance fund was created nearly 13 years ago. Proceeds of the Series 2006A bonds, along with investment earnings will be used by the so-called Cat Fund to pay insurance companies for hurricane losses in 2005.
ACCESSION #
21291925

 

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