Puerto Rico

Puerto Rico's Economic Activity Index was unchanged in January compared to December.

FINRA is examining allegations that broker-dealers violated bond documents and municipal rules by trading bonds from Puerto Rico's recent $3.5 billion general obligation deal to customers in sizes less than the required $100,000 minimum denomination.

Net revenues at the Puerto Rico Highway and Transportation Authority came in 5.2% better than budgeted in the first six months of its fiscal year, the authority reported.

It didn't take long for several broker-dealers to start selling small denominations of Puerto Rico $3.5 billion of general obligation bonds to retail investors in violation of a requirement in the official statement and municipal securities rules.

The Financial Industry Regulatory Authority fined OFS Securities, Inc. in San Juan, Puerto Rico $40,570 and ordered it to pay more than $13,278 in restitution for buying the territory's bonds for its own account and then selling them to customers at prices with excessive markups.

Puerto Rico Gov. Alejandro García Padilla repudiated a bill to guide possible future restructurings of Puerto Rico public corporation finances, saying the proposal ran counter to the administration’s efforts to rebuild the economy.

The Financial Industry Regulatory has a growing list of arbitration claims related to Puerto Rico bonds on its plate as investors seek damages for what they claim was misleading advice about bond funds.

Secondary rallying on Puerto Rico's new term bonds slowed Thursday morning after initial buyers took immediate profits and exited their positions.

With the long-awaited bond issuance by Puerto Rico in the rearview mirror, municipal bond buyers Wednesday had more than $4 billion of new bonds to purchase.

Puerto Rico Gov. Alejandro García Padilla says that Puerto Rico's $3.5 billion bond sale was a triumph and that he plans to work to balance the budget and revive the economy.

The yield on Puerto Rico bonds issued Tuesday in the island's $3.5 billion sale has fallen by 40 basis points in secondary trading.

Investors flocked to a $3.5 billion Puerto Rico general obligation deal Tuesday as hedge funds and institutional buyers snatched up the high-yield bonds. The deal, which marks the largest sale of junk bonds in municipal market history, gives the U.S. territory a chance to reroute its economy.

Several sizeable new bond issues Tuesday may not get the attention issuers hoped for as Puerto Rico's highly anticipated $3.5 billion bond sale grips the market.

Puerto Rico Gov. Alejandro García Padilla has formed a work group to suggest ideas to curb the island's untaxed informal economy, emigration and low labor participation rate.

Puerto Rico may offer bonds maturing in 2035 at a yield from 8.625% to 8.875%, according to preliminary pricing information obtained from underwriters working on the deal, which is set to finalize pricing Tuesday. The $3 billion of bonds come with a coupon of 8%, according to the document, obtained by The Bond Buyer.

Analysts are divided on whether Puerto Rico's unusually frank disclosures before its $3 billion bond issue scheduled for Tuesday will help or hurt the sale.

Puerto Rico plans to sell a $3 billion general obligation bond on Tuesday.

Puerto Rico's Government Development Bank said it hired an affiliate of Millstein & Co. as a financial adviser.

February net revenues in Puerto Rico's General Fund came in 8.5% above projections.

Puerto Rico Gov. García Padilla on Tuesday authorized Puerto Rico to sell up to $3.5 billion in general obligation bonds with possible New York court oversight.