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Puerto Rico Gets Break With Bonds
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Puerto Rico is expected to sell $3 billion in new debt at rates of between 8.62% to 8.87%. Investors get the higher yields with the general obligation pledge- the constitution states all the island's available resources would be used to see that investors are protected. The borrowing at lower rates than expected gives time for the region to help restore the stability of its finances.
Puerto Rico- debt, credit ratings and borrowing costs
10/08/2013
Grouped Articles
Yields on Puerto Rico Debt Hit High
Wall Street Journal 01/02/2014
$2 Billion Deal in Works for Puerto Rico
New York Times 01/21/2014
S&P Lowers Puerto Rico Debt to Junk Status
New York Times 02/04/2014
Puerto Rico Gets Break With Bonds
New York Times 03/10/2014
Puerto Rico Buys Some Time With Bond Sale
Wall Street Journal 03/12/2014
Wall Street Journal 10/08/2013
Puerto Rico's credit ratings
12/13/2012
Grouped Articles
Wall Street Journal 10/08/2013
Banks Rack Up Big Fees From Puerto Rico Bond Deals
Wall Street Journal 10/23/2013
Yields on Puerto Rico Debt Hit High
Wall Street Journal 01/02/2014
$2 Billion Deal in Works for Puerto Rico
New York Times 01/21/2014
S&P Lowers Puerto Rico Debt to Junk Status
New York Times 02/04/2014
Puerto Rico Gets Break With Bonds
New York Times 03/10/2014
Puerto Rico's economy 2010-2014
02/13/2012
Grouped Articles
Wall Street Journal 10/08/2013
Banks Rack Up Big Fees From Puerto Rico Bond Deals
Wall Street Journal 10/23/2013
$2 Billion Deal in Works for Puerto Rico
New York Times 01/21/2014
S&P Lowers Puerto Rico Debt to Junk Status
New York Times 02/04/2014
Puerto Rico Gets Break With Bonds
New York Times 03/10/2014
Puerto Rico Buys Some Time With Bond Sale
Wall Street Journal 03/12/2014
Puerto Rico politics and government 2010-2015
02/13/2012
Grouped Articles
Wall Street Journal 10/08/2013
$2 Billion Deal in Works for Puerto Rico
New York Times 01/21/2014
Puerto Rico Gets Break With Bonds
New York Times 03/10/2014
Puerto Rico Buys Some Time With Bond Sale
Wall Street Journal 03/12/2014
Wall Street Journal 07/03/2015
Fortuño's Plan to Energize Puerto Rico
Wall Street Journal 02/13/2012
Puerto Rico's debt financing and the $61 billion in bonds issued since 2006
10/08/2013
About $1.4 billion was paid to banks for underwriting and other fees for the $61 billion in bonds issued since 2006, according to the WSJ review. Banks get higher fees because of a larger gross spread than even Detroit which announced bankruptcy recently. Much of the money raised goes back to finance earlier debt. Because Puerto is triple exempt from city, state and federal taxes and because of higher returns the bonds were oversubscribed by investors. Puerto Rico government officials say the 3.6 million residents do not pay federal taxes and the high debt financing does not burden taxpayers.
Grouped Articles
Banks Rack Up Big Fees From Puerto Rico Bond Deals
Wall Street Journal 10/23/2013
Yields on Puerto Rico Debt Hit High
Wall Street Journal 01/02/2014
$2 Billion Deal in Works for Puerto Rico
New York Times 01/21/2014
S&P Lowers Puerto Rico Debt to Junk Status
New York Times 02/04/2014
Puerto Rico Gets Break With Bonds
New York Times 03/10/2014
Puerto Rico Buys Some Time With Bond Sale
Wall Street Journal 03/12/2014
Puerto Rico's problems with its pension funds
11/26/2012
Grouped Articles
$2 Billion Deal in Works for Puerto Rico
New York Times 01/21/2014
Puerto Rico Gets Break With Bonds
New York Times 03/10/2014
Puerto Rico Buys Some Time With Bond Sale
Wall Street Journal 03/12/2014
Wall Street Journal 07/03/2015
Treasury Plan for Puerto Rico Favors Pensions Over Bondholders
New York Times 02/24/2016
Puerto Rico Races to Rescue Its Pension Fund
New York Times 11/26/2012
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