Treasury weighs restructuring of Puerto Rico
Officials in the Treasury Department and Puerto Rico are discussing the issuance of a "superbond" that would help restructure the commonwealth's $72B of debt.Under the plan, the Treasury or designated third party would administer an account holding at least some of the island's tax collections, and funds in that account would be used to pay holders of the superbond.Puerto Rico has warned that it is likely to exhaust its remaining cash in November, and a debt payment of almost $300M is due on Dec. 1.
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