Hints and tips:
...Some US bond investors will be attracted to the prospect of receiving US tax-free interest payments on those new bonds from the newly de-levered territory....
...A: Conshohocken The Puerto Rico Aqueduct & Sewer Authority is one of the island’s few municipal borrowers that did not default on senior debt over the past several years....
...Launched in 2006 by Feliciano, a native of Bayamón, Puerto Rico, and Eghbali, who emigrated from Iran to the Los Angeles area in 1986, Clearlake targets specialised but highly profitable companies in the...
...(Wall Street Journal) Decentralised paradise For the crypto community lining Puerto Rico’s shores, the sunny weather and lush golf courses are just added bonuses next to the ultra-low tax rates....
...Puerto Rico and Haiti, which are affected by hurricanes. India and Bangladesh, which are prone to tropical cyclones....
...When Hurricane Maria pulverised Puerto Rico in 2017, he delivered more than 3.7m meals across the stricken island — often putting the combined emergency relief of the far larger Federal Emergency Management...
...After a spectacular rally last year, Puerto Rico’s paper is gradually starting to sell off. Puerto Rico’s rollercoaster ride is the exception, though....
...In the hour-long podcast, Mr Paulson touched on topics including his bet on Puerto Rico as a tax haven, his support for US President Donald Trump, his push for the government to privatise Fannie Mae and...
...The New York Federal Reserve has frozen new Puerto Rico offshore banking account approvals amid federal money laundering investigations related to the Venezuelan sanctions....
...That could be a nod to recent events in Puerto Rico, where customers were caught out after using loans secured against portfolios of government bonds to buy more government bonds....
...business faced a string of catastrophes, including hurricanes in the US and Puerto Rico and wildfires in California....
...As an appointee in the Obama Administration, Weiss became the White House’s point-person on its response to the growing fiscal crisis in Puerto Rico, alongside US Treasury boss Jack Lew....
...The official death toll of last September's hurricane in Puerto Rico was 64: this study says the death toll probably exceeded 4,645 — or 70 times the official estimate....
...If there were a surviving bond issue class, that would give investors in post-Article III Puerto Rico some comfort that they would be paid in the future....
...Municipal bond funds — which buy tax-free debt issued by states or counties to pay for infrastructure projects — have reported inflows for more than half a year and are at their highest level since January...
...Investors holding senior debt issued by the Puerto Rico Sales Tax Financing Corporation, known as Cofina by its Spanish acronym, have sought to avoid a haircut while providing debt relief to the island,...
...Investors holding senior debt issued by the Puerto Rico Sales Tax Financing Corporation, known by its Spanish acronym Cofina, have sought to avoid a haircut while providing debt relief to the island....
...Puerto Rico has declared a debt moratorium. Numbers news Nate Silver gives Donald Trump a 20 per cent chance of becoming president....
...Smith & Nephew drifted 2 per cent to £11.39 even after Medtronic, its US peer, won a tax case that will free up about $3bn of cash trapped in Puerto Rico....
...To be sure, the authorities in Reykjavík, on advice of their attorneys at Cleary, Gottlieb – the firm that has represented other default-prone governments in Argentina, Greece and Puerto Rico– have gone...
...If the European investors were willing to deceive themselves about Greece, their US counterparts were equally obtuse about what had to happen in Puerto Rico....
...Unless you are a full-time player on Puerto Rico, be satisfied with the 10 or 11 per cent tax-free yield on the long-term general obligation bonds, and, probably, the Cofina sales tax bonds....
...The defaults will be a shock to both the Puerto Rican public and the mom-and-pop individual investors who still own the bonds for their tax-free income supported by sincere-sounding covenants....
...Puerto Rico receives fiscal transfers of nearly 30% of its own GDP from the rest of the US because it is so much poorer than the average....
...Even with tax-free yields now just shy of 10 per cent, the Mom-and-Pop savers who bought most of Puerto Rico’s now junk-rated debt, will no longer touch new issues....
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