Puerto Rico's Government Development Bank has issued nearly $350 million in short-term financing, according to a filling on the Electronic Municipal Market Access (EMMA) website on Thursday.
There were two series of notes issues. The largest was $319.05 million senior notes that carried an initial offering yield of 7.75 percent and which mature in June 2015.
The smaller series was a $30.6 million of variable rate senior notes that carried and initial offering yield of 7.7 percent and also mature in June 2015.
Puerto Rico passed legislation this week allowing it to sell up to $1.2 billion of Tax Revenue Anticipation Notes, which it is expected to complete in a private placement. (Reporting by Edward Krudy)
Puerto Rico issues $350 mln in short-term notes - EMMA
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