Puerto Rico Water Agency Said to Plan $700 Million Bond Sale
This article is for subscribers only.
Puerto Rico’s water-supply agency plans to sell about $700 million of debt as soon as June 24, according to three people familiar with the sale who asked for anonymity because the deal hasn’t been finalized.
The junk-rated Aqueduct & Sewer Authority, called Prasa, hasn’t sold debt since February 2012, data compiled by Bloomberg show. It would be the first bond sale from the island since March 2014, when the commonwealth sold $3.5 billion of general obligations, the largest junk-rated municipal deal ever.