Commonwealth launches bondholder registry initiative
June 16, 2016
The government of Puerto Rico announced Wednesday the launch of an a bondholder registry to improve and facilitate communications with more than 500,000 creditors holding debt issued by the Commonwealth and its public corporations and instrumentalities.
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Backyard Bondholders hosting forum on June 27
June 15, 2016
Backyard Bondholders Inc. will host its first major forum on June 27 featuring a series of conferences focusing on how Puerto Rico’s fiscal crisis is directly affecting more than 60,000 island residents holding bonds representing some $15 billion in public debt.
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Court: Gov’t will have to turn over bondholder info
May 13, 2016
After nearly a year of litigation, the Center for Investigative Journalism on Thursday confirmed another legal victory in its battle against the Government Development Bank for Puerto Rico to gain access to information about the hedge funds that hold the Commonwealth’s public debt.
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García-Padilla meets with creditor advisors in NYC
May 11, 2016
Puerto Rico Gov. Alejandro García-Padilla met with a group of unidentified advisors to the Commonwealth’s creditors to communicate, first hand, the need for Puerto Rico reach a broad restructuring of its $70 billion public debt to sustainable levels, his office said Tuesday.
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Local bondholders demand voice in restructuring talks
April 25, 2016
Individual Puerto Rico bondholders announced the creation of Backyard Bondholders seeking to have a unified voice in the negotiations between the commonwealth’s government, the U.S. House of Representatives and other creditors on the restructuring of the public debt.
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Assured supports proposal to restructure P.R. GO bonds
April 12, 2016
Debt insurer Assured Guaranty has aligned with the Ad Hoc Group of Puerto Rico's General Obligation Bondholders, agreeing to the deferral of principal repayment of Puerto Rico General Obligation Bonds on terms “economically consistent with the previously released term sheet,” the group said Monday.
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PR creditors offer 5-yr. debt service freeze, $750M loan
April 6, 2016
A group of investors — including certain mutual funds — holding $5 billion in Puerto Rico's General Obligation bonds revealed Monday the terms of a joint restructuring proposal that calls for offering the government a five-year moratorium on principal payments and $750 million in upfront liquidity.
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Bondholders sue GDB to stop ‘preferential transfers’
April 5, 2016
A group of holders of outstanding bonds of the Government Development Bank for Puerto Rico filed a complaint in the U.S. District Court for the District of Puerto Rico Monday seeking to enjoin certain transfers of assets by GDB they claim are prohibited under Puerto Rico law.
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PREPA, bondholders return to negotiating table
January 28, 2016
The Puerto Rico Electric Power Authority and its bondholder group announced this morning they have resumed talks, after walking away from the table nearly a week ago.
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CNE: P.R. needs Ch. 9 to navigate ‘unchartered waters’
December 8, 2015
Puerto Rico’s current fiscal problems are bringing up unprecedented issues that will likely be subject to interpretation by local and federal courts if the government defaults on its debt and bondholders decide to defend their contractual rights via the lawsuit route.
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Main Street Bondholders to host gathering in San Juan
November 17, 2015
Main Street Bondholders, a coalition formed by the 60 Plus Association, announced it will host a gathering in San Juan this week, to bring coalition members and the media together, organizers said.
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Report: GDB knows bondholders IDs, but withholds info
October 29, 2015
The Government Development Bank has contracted New York-based Bondholder Communications Group, LLC to develop a communications database of information regarding bonds issued by the government and their value, a report by the Center for Investigative Journalism released Wednesday confirmed.
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Sanders, Warren defend P.R. against ‘vulture funds’
October 23, 2015
WASHINGTON — The two most prominent progressives in the U.S. Senate urged the federal government Thursday to help Puerto Rico stand up against the “vultures” they largely blame for the island’s current fiscal nightmare.
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Op-Ed: How can anyone trust another PREPA overhaul?
October 22, 2015
What is that saying? Fool me once, shame on you, fool me twice, shame on me. For over a decade the Puerto Rico Electric Power Authority (PREPA) has reached out to the bond market promising up-graded facilities, new cheaper electricity with natural gas, solar and wind. Time and time again, it didn’t happen.
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Bondholders launch coalition of ‘ordinary investors’
August 28, 2015
The 60 Plus Association announced Thursday the formation of "Main Street Bondholders," a new small bondholder coalition made up of ordinary investors from Puerto Rico and the U.S. mainland who hold retirement, college and life savings in Puerto Rican bonds.
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