Puerto Rico Expected To Float "Superbond" Offer In Private Meeting Today

A meeting between Puerto Rico’s Government Development Bank and bond holder financial advisers will likely float the proposal for a “superbond,” a UN debt expert source closely following the matter tells ValueWalk. However, key players, including well-known “vulture hedge fund” Aurelius Capital, are not anticipated to attend as individual creditors were not invited and the meeting contents are designated to remain confidential.

Puerto Rico "superbond" idea to be floated, but investors want details on haircut

At the Friday meeting in New York, representatives of the Puerto Rican government are expected to float the idea of a “superbond” that will consolidate all the island’s $72 billion in debt into one bond. Bond investors would be asked...