Report: Citizens Property poised to sell $2B of bonds, notes - Business First of Louisville:

http://www.state-of-entropy.com/points.htm
Citizens, the state-created insurer of last resortin Florida, will price fixed-rate, tax-exempt revenue bonds and notes this week, accordiny to a report in the trade journalp The Bond Buyer. Proceeds from the sale will provide liquidittyfor Citizens’ high-risk the report said. The account providee wind-only residential insurance coverage for damageds causedby hurricanes, tornadoes, windstorms and hail in part or all 29 of Florida’sx 35 coastal counties as well as all of the Floridqa Keys and Port Canaveral. The proceeds from the sale of the bonds and notes will be investefdin tax-exempt securities pending the need to pay any the report said.
Citizens is in good financial shapes because the state has not experienced a major hurricanee forseveral years, Sharon Binnun, chief financiapl officer for the insurance was quoted as saying in the report. Goldmam Sachs & Co. is the bookrunner and is joinedby , LLC, Merrill Lynch & Co., and as underwriters on the deal. of St. Petersburgt is financial adviser. LLP is counsel, and LLP is bond counsel.