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"At the Friday meeting in New York, representatives of the Puerto Rican government are expected to float the idea of a “superbond” that will consolidate all the island’s $72 billion in debt into one bond. Bond investors would be asked to swap their existing bonds for the “superbond” and in doing so they could be accepting a reduction in the amount they are owed and extending the repayment period so the region can regain its economic footing, according to Eric LeCompte, executive director of Jubliee USA, a bi-partisian debt relief advocacy group who is closely following*the matter.The “superbond” proposal to solve Puerto Rico’s problems was floated by the U.S. Treasury department in October and was dismissed as “half baked,” with commentators at the time advising that participants “forget” the idea and rather move to a solution involving bankruptcy."
"At the Friday meeting in New York, representatives of the Puerto Rican government are expected to float the idea of a “superbond” that will consolidate all the island’s $72 billion in debt into one bond. Bond investors would be asked to swap their existing bonds for the “superbond” and in doing so they could be accepting a reduction in the amount they are owed and extending the repayment period so the region can regain its economic footing, according to Eric LeCompte, executive director of Jubliee USA, a bi-partisian debt relief advocacy group who is closely following*the matter.The “superbond” proposal to solve Puerto Rico’s problems was floated by the U.S. Treasury department in October and was dismissed as “half baked,” with commentators at the time advising that participants “forget” the idea and rather move to a solution involving bankruptcy."
[text] Puerto Rico Expected To Float Idea to Aggregate Outstanding Debt and Reissue into "Superbond" | ValueWalk
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