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Puerto Rico Public Finance to sell $400 million of appropriation bonds
By Sheri Kasprzak
New York, Nov. 30 - The Puerto Rico Public Finance Corp. is set to price $400 million of series 2011B commonwealth appropriation bonds, according to a preliminary official statement.
The bonds (Baa2/BBB-) will be sold on a negotiated basis with Barclays Capital Inc. as the senior manager. The co-lead managers are Goldman, Sachs & Co. and J.P. Morgan Securities LLC. The co-managers are BMO Capital Markets LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Jefferies & Co., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets LLC, UBS FS Puerto Rico, Wells Fargo Securities LLC, BBVAPR MSD, FirstBank Puerto Rico Securities, Oriental Financial Services, Popular Securities, Santander Securities, Scotia MSD and VAB Financial.
The maturity dates have not been set.
Proceeds will be used to refund the corporation's series 2004A commonwealth appropriation bonds.
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