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Puerto Rico To Raise $600M In Debt

Puerto Rico is raising $600 million in a sale of bonds due in 30 years.

Puerto Rico is raising $600 million in a sale of bonds due in 30 years, Financial Times reports. The Caribbean island initially planned to sell $300 million in the debt issue.

JPMorgan Chase led the firms underwriting the transaction, adds Bloomberg. Puerto Rico has received $1 billion worth of offers from investors for the commonwealth’s first new money general-obligation issue.

Click here for the story from Financial Times.

Click here for additional coverage from Bloomberg.

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