The Bank of New York has been appointed by the Virgin Islands Public Finance Authority as trustee, registrar and paying agent for its $268,020,000 Gross Receipts Taxes Loan Note, Series 2003 Bonds. The Virgin Islands Public Finance Authority is an independent agency that helps the government of the U.S. Virgin Islands perform its fiscal duties and raise capital for essential public projects.
“We selected The Bank of New York for this debt issue because we are pleased with the attentive and responsive service they have provided to us in their capacity as the paying agent and trustee of our Tobacco Settlement Bonds and as paying agent for our Highway Revenue Bonds,” says Kenneth E. Mapp, director of finance and administration for the Virgin Islands Public Finance Authority.
Karen B. Peetz, executive vice president and Head of the corporate trust division at The Bank of New York, added: “Our focus on relationship management and hands-on approach to client service has helped us build a long-term relationship with the Virgin Islands Public Finance Authority. We look forward to supporting this important bond transaction.”