USVI Launches New Investor Relations Website To Provide Current Financial Information

By: United States Virgin Island Public Finance Auth
 
 
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* Bond
* Investor
* Usvi

Industry:
* Finance

Location:
* Boston - Massachusetts - US

Subject:
* Websites

BOSTON - Oct. 4, 2017 - PRLog -- The USVI Public Finance Authority today launched a new dedicated investor website https://www.usvipfainvestorrelations.com to better communicate with current and potential bond investors. It is intended to provide insight into the credit fundamentals of the USVI economy.

The investor platform is available to bond investors, as well as the media and other interested parties. The new website consolidates the Territory's data and documents valuable to bond investors and rating agencies, providing quick and easy access to financial information including information submitted to the Electronic Municipal Market Access (EMMA). The long-term goal is to attract more investors, including retail investors, as well as local banks and wealth managers, in order to increase distribution and diversify the investor base.

Governor Kenneth E. Mapp encouraged potential investors to visit the new site.

"Hurricanes Irma and Maria have certainly had a dramatic impact on the Territory and will result in significant challenges as we recover and rebuild," he said. "Nevertheless, we want to assure the investor community that we will rebuild our infrastructure and address our financial issues. We are committed to being as transparent as possible with the investor community and the public at large."

The USVI has approximately $2 billion in outstanding bonds primarily in Rum Matching Fund Revenue Bonds (MFR) and Gross Receipt Tax Revenue Bonds (GRT). MFR payments to Virgin Islands bondholders are wired directly from the US Treasury to the Bank of NY Mellon Trust Company to ensure all bondholders are paid. Matching Fund bond payments have already been submitted for 2017 and 2018, and payments are in escrow through 2019.

The government has a Lock-Box Security Structure for USVI GRT bonds that provides daily deposits of all collections by the Government to a Special Escrow Account held by the Bank of New York. Only after the Transfer Requirement is met, are excess collections transferred to the Government for deposit into the General Fund.

As of September 14, 2017, the Requirement for all GRT Bonds has been fully funded and the full principal and interest payable on October 1, 2017 on the GRT Senior Bonds and Subordinated Notes is fully funded. In 37 years, the USVI has never been late or missed a payment on its bonds,

This new investor resources tool is powered by BondLink, a Boston-based financial technology company that seeks to provide investor relations solutions to issuers in the municipal bond market.

For more information about the USVI's investor relations website, please contact Lonnie Soury at (917) 519-4521, or Lsoury@soury.com

Media Contact
Lonnie Soury
lsoury@soury.com
(917) 519-4521
End
Email:***@soury.com
Tags:Bond, Investor, Usvi
Industry:Finance
Location:Boston - Massachusetts - United States
Subject:Websites
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