Puerto Rico to Present Broad Debt-Restructuring Plan Friday

  • Proposal may contain bondholder losses and payment delays
  • Commonwealth is seeking to lower its $70 billion debt stack

Puerto Rico plans to meet with creditors on Friday and present a long-awaited proposal that would inflict losses on bondholders as the commonwealth seeks to reduce a $70 billion debt burden that island officials call unsustainable, according to two people familiar with the discussions.

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