Rhode Island plans to market part of a $350 million tax anticipation note deal directly to residents and small businesses today at certain branches of Bank of America NA. The Tans will mature in eight months and will be sold in denominations of $1,000, instead of the typical $10,000 that Rhode Island sold last year.

Rhode Island Treasurer Frank Caprio has tried to do a balancing act, on the one hand trying to convince state residents to help the government without spooking investors so soon after a downgrade by Fitch Ratings.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.