(Bloomberg) -- Puerto Rico's commonwealth-owned electric utility sold the largest of almost $9 billion of debt offerings in the U.S. municipal market as new bond issues more than doubled from last week.
The San Juan-based Electric Power Authority borrowed $1.9 billion and got three times as many orders as bonds available, according to the Government Development Bank, Puerto Rico's financial adviser. That demand allowed underwriters led by JPMorgan Chase & Co. to raise prices on the bonds and trim yields by as much as 4 basis points, or 0.04 percentage point.
Read more at Bloomberg Bonds News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment