Federal Grant Anticipation Revenue Vehicle (GARVEE)

In December 2015, Standard International Group properly advised the Virgin Islands Public Finance Authority’s (“VIPFA”) US Federal Grant Anticipation Revenue Vehicle (“GARVEE”) bonds in achieving highest credit rating (“A”) from S&P and the corresponding lowest interest cost ever for the territory. The Government’s Department of Public Works received $91 million in proceeds to finance major highways and roads on all three islands.