{"id":1697,"date":"2015-08-25T18:36:52","date_gmt":"2015-08-25T18:36:52","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/08\/puerto_rico_delays_750m_bond_s"},"modified":"2022-03-11T13:38:05","modified_gmt":"2022-03-11T19:38:05","slug":"puerto-rico-delays-750m-bond-s","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/","title":{"rendered":"Puerto Rico Delays $750M Bond Sale"},"content":{"rendered":"

\t\t\t\tAccording to The New York Times<\/em>, Puerto Rico is again delaying a recent proposed bond issuance latest decision to stall the bond sale, this time because of trouble in the global markets. However, said the newspaper, the island’s government also seems to have come to the conclusion it could not borrow the $750 million by issuing the bonds at an interest rate that was affordable. <\/p>\n

The delay in the Puerto Rico bond sale comes just two months after Gov. Alejandro Garcia Padilla declared the territory’s debts unpayable. Not only are the territory’s three big public utilities unable to pay off their debt but also they cannot shut down their operations. Earlier this month, the island defaulted on the bulk of a bond payment due on debt belonging to the Public Finance Corporation, which is another one of Puerto Rico’s government agencies. <\/p>\n

On Tuesday, Puerto Rico asked the U.S. Supreme Court grant it the use of bankruptcy protection as the Commonwealth attempts to restructure $20 billion in public utility debt. Garcia Padilla and Secretary of Justice Cesar Miranda Rodriguez submitted a petition requesting that the court overturn previous rulings striking down the 2014 Puerto Rico Public Corporation Debt Enforcement and Recovery Act. <\/p>\n

The Act granted Puerto Rican utilities and public companies bankruptcy protection not included under U.S. Chapter 9 bankruptcy laws. Meaning, while the territory awaits that decision, the September 1 deadline for Puerto Rico to outline its restructuring plan is just days ahead.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

According to The New York Times, Puerto Rico is again delaying a recent proposed bond issuance latest decision to stall the bond sale, this time because of trouble in the global markets. However, said the newspaper, the island’s government also seems to have come to the conclusion it could not borrow the $750 million by […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3922,4039],"tags":[],"class_list":["post-1697","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds","category-puerto-rico-bond-funds"],"yoast_head":"\nPuerto Rico Delays $750M Bond Sale — Investor Lawyers Blog — August 25, 2015<\/title>\n<meta name=\"description\" content=\"According to The New York Times, Puerto Rico is again delaying a recent proposed bond issuance latest decision to stall the bond sale, this time because — August 25, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Puerto Rico Delays $750M Bond Sale — Investor Lawyers Blog — August 25, 2015\" \/>\n<meta name=\"twitter:description\" content=\"According to The New York Times, Puerto Rico is again delaying a recent proposed bond issuance latest decision to stall the bond sale, this time because — August 25, 2015\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Puerto Rico Delays $750M Bond Sale — Investor Lawyers Blog — August 25, 2015","description":"According to The New York Times, Puerto Rico is again delaying a recent proposed bond issuance latest decision to stall the bond sale, this time because — August 25, 2015","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/","twitter_card":"summary_large_image","twitter_title":"Puerto Rico Delays $750M Bond Sale — Investor Lawyers Blog — August 25, 2015","twitter_description":"According to The New York Times, Puerto Rico is again delaying a recent proposed bond issuance latest decision to stall the bond sale, this time because — August 25, 2015","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Puerto Rico Delays $750M Bond Sale","datePublished":"2015-08-25T18:36:52+00:00","dateModified":"2022-03-11T19:38:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/"},"wordCount":437,"articleSection":["Municipal Bonds","Puerto Rico Bond Funds"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/","url":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/","name":"Puerto Rico Delays $750M Bond Sale — Investor Lawyers Blog — August 25, 2015","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2015-08-25T18:36:52+00:00","dateModified":"2022-03-11T19:38:05+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"According to The New York Times, Puerto Rico is again delaying a recent proposed bond issuance latest decision to stall the bond sale, this time because — August 25, 2015","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-delays-750m-bond-s\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Puerto Rico Delays $750M Bond Sale"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-rn","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=1697"}],"version-history":[{"count":1,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1697\/revisions"}],"predecessor-version":[{"id":24379,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1697\/revisions\/24379"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=1697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=1697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=1697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}