JPMorgan Exploits 15-Year Ban With De Facto Munis

JPMorgan Exploits 15-Year Ban With De Facto Munis

Dado Galdieri/Bloomberg

Parana state, in the south of Brazil, is seeking approval for a 1.1 billion-real loan from Credit Suisse to repay debt owed to the state-owned electric utility, according to state Finance Secretary Luiz Carlos Hauly.