Puerto Rico Continues Borrowing Wave With $103 Million Housing Deal

D'Ambrosio, Gillian
April 2003
Bond Buyer;4/21/2003, Vol. 344 Issue 31618, p36
Trade Publication
In the third major deal by a Puerto Rico issuer, the Puerto Rico Housing Finance Authority will price 102.5 million dollars of single family home mortgage revenue bonds on April 22, 2003. Carlos M. Pineiro, executive vice president of finance for the Government Development Bank for Puerto Rico, said proceeds from the new-money deal will be used to provide low-interest mortgages for low-and moderate-income buyers as part of the commonwealth's push to encourage home ownership and accommodate robust demand for housing. The Puerto Rico Highway and Transportation Authority issued 1.57 billion bonds in a combination of new-money debt and refunding bonds the week before.


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