Puerto Rico Said to Plan $900 Million Note Offer in 30 Days
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Puerto Rico plans to sell $900 million of tax- and revenue-anticipation notes within 30 days, according to a person with knowledge of the sale, marking its first foray into the municipal-debt market since March.
The junk-rated U.S. commonwealth chose JPMorgan Chase & Co. to manage the sale, according to the person, who requested anonymity because the island hasn’t announced the offering. Jessica Francisco, a spokeswoman at New York-based JPMorgan, declined to comment.