Puerto Rico Confronts Bondholders as Debt Talks Turn Contentious
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If you thought Greece’s negotiations with its creditors were ugly, just wait for the reception Puerto Rico officials will receive after saying they want to restructure their $72 billion debt load.
More than 300 participants ranging from institutional investors to hedge funds to bond insurers are scheduled to attend Monday’s presentation in New York explaining why the Caribbean island cannot repay all of its obligations on time. Complicating matters is a push by commonwealth officials to seek federal assistance and even changes in bankruptcy laws.