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Board reaches restructuring deal with certain major bondholders

The federal entity signs an agreement with The Lawful Constitutional Debt Coalition (LCDC) and the government warns it will not honor it

17 de junio de 2019 - 9:44 AM

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This content was published more than 5 years ago.

In dollars and cents, the Board proposal seeks to reduce the $35 billion of the Commonwealth-related bonds outstanding to less than $12 billion. (GFR Media)

By Joanisabel González

Editora de Negociosjoanisabel.gonzalez@gfrmedia.com

The Oversight Board reached an agreement with the Lawful Constitutional Debt Coalition (LCDC), a group that brings together certain major creditors owning about $ 3 billion in General Obligation (GOs) and Public Buildings Authority (PBA) bonds, who would be paid 73 and 64 percent, respectively, of the principal invested.

Joanisabel González