Puerto Rico Government Development Bank to sell $295 million notes

By Sheri Kasprzak

New York, Sept. 29 - The Government Development Bank for Puerto Rico plans to sell $295 million of series 2011D senior notes, according to a preliminary official statement.

The notes (Baa1/BBB/) will be sold through Citigroup Global Markets Inc.

The notes are due in 2012.

Proceeds will be used to fund the capital needs of the commonwealth for the coming fiscal year.

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