Early Bond Calls on Florida’s Citizens Property Insurance September 27 Board Agenda

Sep 25, 2017

At its meeting scheduled for Wednesday, September 27, 2017, Florida’s Citizens Property Insurance Corporation (“Citizens”) Board of Governors (“Board”) will consider whether to call several bonds before their maturity date–a move estimated to save the State-run insurer over $9 million in gross interest costs.

The Board will consider action on two recommendations:

  • Approval of the redemption documents and authorization of Citizens’ staff to utilize the optional redemption feature on December 1, 2017 for the $50 million Coastal Account Series 2015A-1 Bonds maturing on June 1, 2018.
  • Approval of the redemption documents and authorization of staff to utilize the optional redemption feature on December 1, 2017 for the $150 million Coastal Account Series 2015A-2 Bonds maturing on June 1, 2018; and the $150 million Coastal Account Series 2015A-2 Bonds maturing on June 1, 2020.

To read the Board Executive Summary of the call recommendation, click here.

To view additional materials and teleconference access information for Wednesday’s meeting, click here.

 

 

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