Puerto Rico Electric Said to Offer 7.15% Yield on 30-Year Bonds
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Puerto Rico Electric Power Authority plans to sell $600 million of revenue debt tomorrow with an initial yield of 7.15 percent on 30-year securities, according to three people familiar with the sale who requested anonymity before the pricing is final.
The sale would be the first for a borrower from the commonwealth since November. The agency, which runs the largest U.S. public-power system, is rated one step above junk by Moody’s Investors Service.