Current Page:1
Citizens Property Plans $2B Bond Sale
03-16-2010 | Source: emii.com
People & Companies in the News Florida’s government-owned Citizens Property Insurance may raise $2 billion through the sale of 10-year tax-exempt bonds, Bloomberg reports. The hurricane insurer will sell senior secured notes, including $400 million in floating-rate notes and $200 million in short- term securities.
The proceeds will be added to reserves for claims during the hurricane season, which begins June 1. The company has issued one million policies, which make up 22% of the Florida market.
Click here for the story from Bloomberg. Current Page:1