Commonwealth of Puerto Rico

The website aims to provide information about the restructured bonds and to advertise them as creditworthy.

Muni bankruptcy expert James Spiotto told lawmakers that replacing debt restructuring with debt cancellation has no rationale or justification.

The mediator's report on almost $26 billion of bonds is now scheduled to be submitted on Nov. 27.

Judge Swain has ordered an end to the stay on open litigation of pension bond issues.

UBS, the underwriter facing more than $800 million in lawsuits over the pension system bonds, argued the proposed schedule won't give it enough input.

Lack of legislative cooperation wouldn't be a problem until after court-approval of a plan of a adjustment, observers said.

The proposal is highly doubtful to become law in the coming months given the limited number of days Congress will be in session the remainder of the year.

The board also said the local government's $18 billion in the bank doesn't give it additional money to pay bondholders.

Two board members said an effort in congress to shift responsibility for the commonwealth's infrastructure revitalization is ill timed.

If a majority of the justices find the Oversight Board created by Congress has a primarily federal role, it could do what the hedge funds want and invalidate the board.

The House Natural Resources Committee, meanwhile, is meeting Oct. 22 to consider removing the infrastructure revitalization section from the federal legislation that established the Puerto Rico Financial Oversight and Management Board.

Bondholders' hopes of getting more than 13 cents on the dollar depend on rulings in various legal proceedings.

The wild card part of this case is whether the justices decide to take an expansive look back on early 20th century decisions known as the Insular Cases and rule on the constitutional rights of U.S. citizens living in territories outside the 50 states.

The Supreme Court let a lower court decision stand that may mean bondholders will get 100 cents on the dollar instead of 13 cents on $3.2 billion of bonds.

This week's new deals will price into a market that has seen declining yields as stocks and Treasuries have weathered market volatility.

The island's economic index "is approaching the behavior that existed prior to the hurricane.”

Gov. Wanda Vázquez García's support for pension cuts that had been opposed by her predecessor is seen as "a strong positive" for the debt restructuring.

The Puerto Rico Oversight Board filed a proposed plan of adjustment Friday that would reduce the commonwealth’s debt obligations by 60% and establish a roadmap to exit bankruptcy.

With a meeting on the restructuring set, bondholders were girding for battle over the board's plan to nullify portions of the debt.

Managing Director, Miller Buckfire & Co.