Puerto Rico

Puerto Rico said it would not be paying bond anticipation notes from the Puerto Rico Infrastructure Finance Authority.

A debate about a bill to help the Puerto Rico Aqueduct and Sewer Authority sell a bond has degenerated into angry exchanges between Puerto Rico House and Senate leaders.

Puerto Rico and Obama administration officials said on Thursday it is imperative that a House bill designed to help the commonwealth be passed into law before the territory’s expected debt payment default on July 1.

The Senate is expected to keep Puerto Rico waiting for progress a House bill to help the island address its debt crisis, as other options for the commonwealth have continued to be eliminated.

The Puerto Rico Energy Commission approved a mechanism to support the restructuring of the debt of the Puerto Rico Electric Power Authority.

Hedge funds holding Puerto Rican general obligation bonds sued the commonwealth Tuesday after debt restructuring talks broke down.

The Bonistas del Patio, or “Backyard Bondholders,” is holding a forum on Monday, June 27, which will focus on the Commonwealth’s current bond situation, investments, and vision for the future. HJ Sims is participating in the event which features a special panel with appearances by the Puerto Rico gubernatorial candidates.

Even before the Senate takes up the House Puerto Rico bill, the names of several individuals are being floated as possible candidates for the oversight board the legislation would create.

Three Puerto Rico legislators are proposing a bipartisan bill aimed at avoiding a July 1 default through a bondholder exchange.

Sen. Bob Menendez, D-N.J., said on Thursday that he plans to offer amendments to a House bill designed to help Puerto Rico to make the bill fairer to Puerto Rican residents.

House Financial Services Committee members unanimously approved a bill on Thursday that would put an end to a current legal loophole that a lawmaker contends allowed broker-dealers to defraud Puerto Rico investors.

Puerto Rico set up a registry of investors to foster two-way communication with all of its bondholders, making it easier for them to take “collective actions,” which may include debt restructuring votes.

National Public Finance Guarantee sued Puerto Rico Wednesday to overturn the commonwealth's debt moratorium law.

Senate Majority Leader Mitch McConnell, R-Ky., told reporters on Tuesday afternoon that the Senate will consider the House bill designed to help Puerto Rico before July 1.

Puerto Rico's Senate passed a bill to help the Puerto Rico Aqueduct and Sewer Authority sell bonds, following passage by the Puerto Rico House of Representatives.

The Securities and Exchange Commission is "very focused" on examining whether there were any securities law violations involving Puerto Rico bonds as the commonwealth's fiscal situation deteriorated over the last few years, SEC chair Mary Jo White told the Senate Banking Committee on Tuesday.

Puerto Rico’s legislature may be poised to pass a bill to help the Puerto Rico Aqueduct and Sewer Authority sell as much as $900 million of bonds.

Political opposition to a federal control board in Puerto Rico may make its operations difficult.

The Supreme Court on Monday issued an opinion affirming that a local Puerto Rico debt restructuring law is unconstitutional, leaving congressional action on a House bill as the most viable option left for the struggling commonwealth to deal with its debt crisis.

The full Senate is expected to take up the Puerto Rico bill passed by the House and vote on it before the end of the month or in early July.