Puerto Rico May Borrow $2 Billion, But At 10 Percent
Puerto Rico may get access to the financing that it needs after all, but not through traditional debt markets. Morgan Stanley (NYSE:MS) has been in touch with hedge funds, private equity firms, and other major investors trying to put together $2 billion for the troubled US territory, but the yield could be as high as 10%, far higher than the rates available in the broader municipal bond market, reports Michael Corkery for The New . . .
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