Florida’s Citizens Property Insurance Board Reschedules Bond Redemption Approval Meeting
Mar 13, 2017
Florida’s Citizens Property Insurance Corporation (“Citizens”) Board of Governors (“Board”) will meet on Wednesday, March 15, 2017 to vote on whether to call its 2015 Everglades Re II Series 2015-1 bonds without a call premium on their optional redemption date of May 3, 2017.
To view the meeting materials, click here.
By calling the bonds, Citizens has calculated that it will have full flexibility to optimize the structure of its 2017 risk transfer program without any existing risk transfer carryover and will be able to take full advantage of current market conditions in order to place its 2017 risk transfer program both in the traditional and capital markets as planned.
The 2017 risk transfer program must be returned to the Board for final approval prior to the execution of any financial transaction.
A previously scheduled Board meeting to approve the action had been canceled due to the lack of a quorum on March 3.
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