Bridge Capital offers to buy $20M bond for Guam Gov

Bridge Capital, LLC, in a letter to the Guam Economic Development and Commerce Authority, said it would be willing to consider purchasing a $20 million bond to help the Guam Government meet a federal court order.

“Bridge Capital, LLC would be willing to consider purchasing a bond or bonds secured by the full faith and credit of the Government of Guam with a specified source of repayment revenue for that amount,” the letter states.

The Guam Government was ordered to come up with the $20 million needed for a dump closure and landfill projects by Jan. 5, 2009. A financing plan must be agreed upon by Dec. 5, according to Guam’s Pacific Daily News.

Bridge Capital, LLC, is an international lending and financial services firm headquartered on Saipan.