{"id":46254,"date":"2016-06-21T21:02:00","date_gmt":"2016-06-22T00:12:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/puerto-rico-general-obligation-bondholders-release-new-proposal-for-consensual-deal-on-go-debt\/"},"modified":"2016-06-21T21:04:02","modified_gmt":"2016-06-22T01:04:02","slug":"tenedores-de-bonos-de-obligacion-general-de-puerto-rico-divulgan-nueva-propuesta-de-acuerdo-consensual-sobre-la-deuda-de-og","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/tenedores-de-bonos-de-obligacion-general-de-puerto-rico-divulgan-nueva-propuesta-de-acuerdo-consensual-sobre-la-deuda-de-og\/","title":{"rendered":"Puerto Rico General Obligation Bondholders Release New Proposal for Consensual Deal on GO Debt"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">June 21, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Certain General Obligation (GO) Bondholders of <span class=\"xn-location\">Puerto Rico<\/span> have made a <a href=\"https:\/\/www.scribd.com\/doc\/316367913\/June-20-2016-GO-Only-Counterproposal-Term-Sheet\" target=\"_blank\" rel=\"nofollow\">new proposal<\/a>\u00a0to Commonwealth officials for the restructuring of <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> GO bonds.\u00a0Under this new proposal, existing GO bonds (approximately <span class=\"xn-money\">$18 billion<\/span> face amount) would be exchanged for new GO bonds at 89% of the existing face amount, and the Commonwealth&#8217;s debt service would be reduced by <span class=\"xn-money\">$2.9 billion<\/span> over the first five years.\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<p><span class=\"xn-person\">Andrew Rosenberg<\/span> of Paul, Weiss, Rifkind, Wharton and Garrison LLP, an advisor to the GO bondholders that made this proposal, issued the following statement:\u00a0<\/p>\n<p>&#8220;We believe there is significant bipartisan support in <span class=\"xn-location\">Puerto Rico<\/span> for this proposal, which gives &#8216;breathing room&#8217; to Commonwealth leaders by deferring principal payments and reducing contractual interest rates until July of 2022. This proposal shows a clear and continued willingness on the part of GO bondholders to negotiate with the Commonwealth, and avoid an unnecessary <span class=\"xn-chron\">July 1<\/span> default on General Obligation debt.&#8221; <\/p>\n<p>For any media inquiries, contact <span class=\"xn-person\">Miriam Warren<\/span> at\u00a0<a href=\"mailto:mwarren@dcigroup.com\" target=\"_blank\" rel=\"nofollow\">mwarren@dcigroup.com<\/a>, (202) 772-2186<\/p>\n<p\/>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">June 21, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Certain General Obligation (GO) Bondholders of <span class=\"xn-location\">Puerto Rico<\/span> have made a <a href=\"https:\/\/www.scribd.com\/doc\/316367913\/June-20-2016-GO-Only-Counterproposal-Term-Sheet\" target=\"_blank\" rel=\"nofollow\">new proposal<\/a>\u00a0to Commonwealth officials for the restructuring of <span class=\"xn-location\">Puerto Rico&#8217;s<\/span> GO bonds.\u00a0Under this new proposal, existing GO bonds (approximately <span class=\"xn-money\">$18&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-46254","post","type-post","status-publish","format-standard","hentry","category-gobierno-y-politica"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/46254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=46254"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/46254\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=46254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=46254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=46254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}