Puerto Rico Government Development Bank drafts plans for senior notes

By Sheri Kasprzak

New York, Dec. 8 - The Government Development Bank for Puerto Rico announced plans Thursday to price series 2011G senior notes.

The size of the offering was not immediately available.

The notes will be sold through a syndicate led by J.P. Morgan Securities LLC. The co-managers include Bank of America Merrill Lynch; Barclays Capital Inc.; Citigroup Global Markets; Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; RBC Capital Markets LLC; Ramirez & Co. Inc.; Wells Fargo Securities LLC; BBVAPR MSD; FirstBank Puerto Rico Securities Inc.; Santander Securities Inc.; Scotia MSD; and UBS Financial Services Puerto Rico.

Proceeds will be used for general corporate purposes, including expanding the bank's investment portfolio and making loans to and purchasing obligations from government entities within the commonwealth.

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