The Traderszone Network

Published in TZ Latest News 30 June, 2015 by The TZ Newswire Staff

Major Puerto Rico investor warns it stands ready to defend bonds

U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments. Puerto Rico’s Governor Alejandro Garcia Padilla could be heading toward a fight with creditors unwilling to take reduced payouts as he tries to restructure the island’s $73 billion debt to relieve its fiscal problems.

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