San Juan closes $122 million in GO bonds, the first since PROMESA

On August 20, 2026, Caribbean Business reports that the municipality of San Juan closed a $122 million issue of general-obligation bonds. It is, according to the outlet, the first of that kind since PROMESA. Mayor Miguel Romero Lugo appears as the executive putting the capital back into the U.S. municipal market.

Demand, in that coverage, was about 18 times what was offered: 53 firms and orders of about $2.2 billion. The cost is around 4.99 percent. The issue is backed by the CAE and CRIM. Those four pieces — multiple, firms, orders, and cost — belong to Caribbean Business. The 18 times is not recalculated separately, and no coupon the note did not print is added.

Returning to the market is not, in the piece, a discharge of the central debt or of the AEE. It is a municipal issue, with named local-revenue backing. Other notes, that same August 20, cover the Board at ten years and LUMA without temporary generation. They are not used to explain San Juan's 4.99 percent.

The $122 million is not compared here with the $5,887 million Power Expectations contract or with the DDEC's $2,681 million in projects. They are different boxes. Caribbean Business speaks of a bang in the muni market; the bang stays in the 18-times multiple and the 53 firms, not in an adjective of this magazine's own.

There is no breakdown in the confirmed facts of the works the issue will finance, and no rating written digit by digit beyond the published cost. A reader who wants the official statement has the URL. This magazine is not a placement agent. It copies the date, the amount, the mayor, the CAE/CRIM backing, and demand of about 18 times.

Source: Caribbean Business. https://caribbean.business/puerto-rico-is-back-in-the-u-s-municipal-bond-market-with-a-bang/