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Jun 14, 2019

Mayor Says Belize CitCo’s Municipal Bond Performing Well

Bernard Wagner

Belize City Mayor, Bernard Wagner, also updated News Five on the municipal bonds. According to the mayor, investors in all tranches of both Series one and Series two bonds have already received their principal investment. The Belize Municipal Bond is also comprised of Series Three which contains three separate issues totalling more than nine million dollars. The bonds are expected to mature in 2023.

 

Bernard Wagner, Belize City Mayor

“That structure worked back then. Our structure is a bit different in that structure tied up substantial part of the cash flow in terms of the head tax and subventions. It had tied up those cash flows for up to 2023. That is performing. We are hoping that it will be completed by 2023, and then we will be able to have access back to those subventions as well to the head tax. Given our fiscal performance is adequate enough for us to get this other bond through. Again those other two series that are pending will float easy. The funds are there in the Central bank Account and when that due date is due that will certainly be met.”


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