DALLAS — San Antonio’s CPS Energy is planning its fourth and largest issue of Build America Bonds on Thursday as it faces an Internal Revenue Service audit of a previous BAB deal.

The city-owned utility plans to price two series of the junior-lien taxable debt worth $500 million in a negotiated deal. JPMorgan will be senior manager on the $300 million Series A, with Bank of America Merrill Lynch leading the $200 million Series B.

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