Investors pile into Puerto Rico despite the risks

|By:, SA News Editor

Puerto Rico has sold $3.5B in tax-free bonds, above the $3B that the Commonwealth planned to sell, with the high yield of 8.727% helping to attract $16B in orders from 270 investors despite the risks - the government has been grappling with existing debt of $70B.

The new paper will mature in 2035 and provides Puerto Rico with up to a year-and-a-half of liquidity.

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