7 News Belize

Mayor Says Bond Oversold
posted (December 5, 2019)

And the mayor may think he can afford to have a big laugh about that, after all - he has two law firms and another attorney pursuing the appeal.  They are Courtney & Coye LLP, Glenn D. Godfrey & Co, and Anthony Sylvestre.  

And the Mayor also seemed pleased with his claim that the council's bond offering is oversubscribed and it hasn't even been launched yet.  He says that because they are taking their time:

Bernard Wagner - Mayor, Belize City Council
"This council again, we like to take things and take our time. I know some time we get - you are very impatient right now Jules but we always want to make sure that we take our time in doing any business in we do. That prospectus is fully on stream, we are within the audited financials being done by Cedric Flowers and when that is completed, we will include in the prospectus and then we take it from there."

Daniel Ortiz
"Any buyers lined up already?"

Bernard Wagner
"It's oversold, before going public, it has been oversold."

Jules Vasquez
"Because of theâ€Â¦"

Bernard Wagner
"The confidence in the council."

Jules Vasquez
"And also, we have a depressed; a hyper liquidity market that you know money doesn't have anywhereâ€Â¦"

Bernard Wagner
"Obviously with the low interest rates by the banks, that contribute to it and investors are more willing to take some risk in making sure that it earn much more for their investments."

Daniel Ortiz
"What is the total amount your council is trying to raise with this particular bond?"

Bernard Wagner
"We initially wanted 6.5 million, we have already surpassed that."

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