PROMESA

The largest tranche of the deal, $706 million with a 5% coupon in 2047, yielded 4.15%, a 275 basis point spread over triple-A paper.

Juan Carlos Blanco has a background in law, finance, and government service.

The president named former Utah and Michigan budget director John Nixon and New York educator Betty Rosa. Ana Matosantos may be gone permanently from the board.

Yield-starved investors will help the deal get done, despite credit risks and the island's bankruptcy overhang.

The governor-elect also plans to appoint Manuel Cidre as secretary of economic development and commerce.

The Supreme Court decision in the Aurelius case that the Oversight Board was a local entity affected the U.S. Court of Federal Claims' decision.

But the economy is still significantly smaller than it was a year ago.

The authority is altering many of its operations and organizations, including exploring public-private partnerships and renewable energy resources.

A federal judge has set a Feb. 10 deadline for the Oversight Board to file “an informative motion presenting a term sheet disclosing the material economic and structural features of an amended plan of adjustment.”

A majority of the new Oversight Board members may be more creditor friendly.

A change in status would have both upsides and downsides for the island territory.

A nonbinding referendum on U.S. statehood was leading with more than 52% support, with more than 95% of votes counted, the Associated Press reported.

Justin Peterson left the meeting to deprive the board of a quorum and prevent the adoption of a debt plan he opposes.

Justin Peterson said he expects the next fiscal plan will allocate money for Puerto Rico's central government debt.

Judge Laura Taylor Swain also rejected a motion for a court-appointed investigation of mediation participants engaging in insider trading of Puerto Rico bonds.

The board threatened legal action if the local government continued to implement the three pension laws passed in August.

The board asked the judge to not put any deadlines on the negotiations.

Surveys show employment was up as much as 7% in September from April.

Collections were ahead of Oversight Board's May projections but behind figures for 2019.

Puerto Rico Oversight Board says that National Public Finance Guarantee could do "confirmation discovery" at its own expense.