Government

Update: Bryan Tells the Consortium $1 Billion Bond Deal is Back on the Market

Update: Governor Bryan after 11:00 a.m. today told the Consortium that the government's $943.6 million bond offering was placed back on the market this morning. The deal was pulled in part because potential investors were seeking a higher interest rate than the 3.75 percent set by an amendment to the debt refinancing bill during a Committee of the Whole last week. Asked whether the administration would seek a deal with the capped 3.75 interest rate, or if any changes were made, Mr. Bryan at time of the update to this story (12 noon), had not responded. According to Reorg, a global provider of financial intelligence sources, the administration's bond counsel held the view that the cap established in the law does not have to apply to the transaction. Reorg further stated that the Senate's legal counsel was of the view that the cap applies.  Original Story: The Bryan administration has pulled the $943.6 million debt refinancing deal from the market, citing a lawsuit filed in the Superior...