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Puerto Rico completes first consensual debt restructuring

NOVEMBER 30, 2018 | by Karen Pierog | REUTERS

“… Puerto Rico has other debt restructuring deals in the works, including one for the island’s bankrupt Sales Tax Financing Corporation, known as COFINA. If completed, the transaction would tackle roughly $16 billion of sales tax-backed bonds. … Meanwhile, the island’s oversight board, created under the PROMESA Act, announced on Thursday the appointment of Brown Rudnick LLP as counsel to its committee investigating potential claims against parties involved in Puerto Rico’s financial crisis.”

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