@WSJ reporter covering municipal bonds and public finance. Former reporter at Bloomberg and The Times-Picayune. I like sailing and fishing.

Puerto Rico set to default on $58 billion payment this weekend

marketwatch.com — Investors are bracing for Puerto Rico to miss about $58 million in bond payments in coming days, as the U.S. commonwealth attempts to restructure $72 billion of debt. Saturday's deadline could mark the first skipped payment to bondholders since Gov. Alejandro Garcia Padilla last month said that the island's debts were unsustainable and urged negotiations with creditors.

Mutual Funds Are Front and Center in Puerto Rico Talks

wsj.com — Hedge funds are known as heavy buyers of Puerto Rico bonds, but as the U.S. commonwealth works to restructure about $72 billion in debt, it is a pair of mutual-fund firms that may take the lead in negotiations. OppenheimerFunds Inc. and Franklin Advisers Inc.
Jul 19, 2015

Two mutual fund companies own 15% of Puerto Rico's debt. wsj.com/articles/mutua…

Jul 20, 2015

OppenheimerFunds, Franklin Advisers to Figure Prominently in Puerto Rico Debt Talks wsj.com/articles/mutua… via @WSJ

Jul 20, 2015

RT @Chris_Whittall: OppenheimerFunds, Franklin Advisers to Figure Prominently in Puerto Rico Debt Talks wsj.com/articles/mutua… via @WSJ

Show 2 more tweets from Kate Kelly, Jimmy Vielkind

Inside a Sailing Showdown

wsj.com — Some 800 nautical miles east of Newport, in the Atlantic waters south of Newfoundland, a showdown is taking place. The combatants are two tycoons accustomed to coming out on top. The venue is the 2,800-mile Transatlantic Race, one of sailing's most prestigious ocean races.

Puerto Rico utility pays up on debt

marketwatch.com — he Puerto Rico Electric Power Authority paid all principal and interest due to bondholders on Wednesday, buying the troubled utility time as it works to reach a deal with creditors. The authority, also known as Prepa, said in a statement that it is funding the $415 million payment with about $153 million from its general fund and the rest from its debt-service reserves.

Puerto Rico utility, creditors close to deal to avoid default

marketwatch.com — The Puerto Rico Electric Power Authority and its creditors were close to a deal Tuesday that would allow the cash-strapped utility to pay more than $400 million to bondholders, said people familiar with the matter, potentially staving off what investors feared might be the first default of many from the U.S.

Puerto Rico Utility, Creditors Close to Deal to Avoid Default

wsj.com — The Puerto Rico Electric Power Authority and its creditors were close to a deal Tuesday that would allow the cash-strapped utility to pay more than $400 million to bondholders, said people familiar with the matter, staving off what investors feared might be the first default of many from the U.S.
Jun 30, 2015

Puerto Rico's electric utility is near a deal with its creditors to avoid default on.wsj.com/1IL94fe via @kuriloff

Jun 30, 2015

RT @NickTimiraos: Puerto Rico's electric utility is near a deal with its creditors to avoid default on.wsj.com/1IL94fe via @kuriloff

Jun 30, 2015

RT @margaretrawson: Puerto Rico utility, creditors close to deal to stave off default on.wsj.com/1IL94fe

Jun 30, 2015

RT @margaretrawson: Puerto Rico utility, creditors close to deal to stave off default on.wsj.com/1IL94fe

Jun 30, 2015

Puerto Rico Utility, Creditors Close to Deal to Avoid Default on.wsj.com/1IL94fe via @kuriloff

Show 4 more tweets from Elizabeth Yuan, David Shepardson and others...

Puerto Rico Governor Calls for Delay in Debt Payments for ‘Number of Years’

wsj.com — Alejandro Garcia Padilla in speech says request for negotiated agreement 'is not about politics' Puerto Rico Gov. Alejandro Garcia Padilla said the U.S. commonwealth can't pay its debts and called for a negotiated agreement with bondholders to delay payment for "a number of years" to help restore the island to prosperity.
Jun 29, 2015

Puerto Rico governor calls for delay in debt payments and wants chapter 9 made available to municipal entities on.wsj.com/1IIjv3g

Puerto Rico Releases Report Calling For Concessions From Creditors

wsj.com — Report's release sends some Puerto Rico bonds to record lows Puerto Rico on Monday released a report calling for concessions from the island's creditors in order to stave off a looming crash crunch and take steps toward achieving fiscal health.
Jun 30, 2015

Puerto Rico at a turning point: investors won't lend money and the island is running out of it on.wsj.com/1IGlLIl pic.twitter.com/2qf12FOKWr

Jun 29, 2015

Puerto Rico releases report calling for concessions from creditors. Report from WSJ. on.wsj.com/1IGlLIl via @WSJ

Jun 30, 2015

meanwhile, elsewhere in the world: Puerto Rico urges concessions from creditors on.wsj.com/1IGlLIl via @WSJ

Jun 30, 2015

Good primer from @kuriloff on Puerto Rico, where unemployment is 12.4% and population has sunk 6% over last decade. wsj.com/articles/puert…

SEC Charges Municipal Underwriters With Making False Statements

wsj.com — The Securities and Exchange Commission charged 36 municipal underwriting firms, including units of Citigroup Inc. and J.P. Morgan Chase & Co., with making false statements or omissions in bond documents, the first penalties under the agency's voluntary self-reporting program targeting inaccuracies in those documents.
Jun 19, 2015

RT @NormBChamp: Better disclosure for muni bond issuances is vital. More transparency will make this market better @kuriloff goo.gl/AyGcRe

SEC charges municipal underwriters with making false statements

marketwatch.com — The Securities and Exchange Commission charged 36 municipal underwriting firms, including units of Citigroup Inc. and J.P. Morgan Chase & Co. with making false statements or omissions in bond documents, the first penalties under the agency's voluntary self-reporting program targeting inaccuracies in those documents.
More Articles →
Jul 31, 2015

Puerto RIco moves money to trustee for about $169 million GDB note payment, spokesperson says.

Jul 24, 2015

RT @RobinWigg: For first time in Puerto Rican history, there are now more public school seniors than children in kindergarten. BAML. pic.twitter.com/atF4wUQz5M

Jul 20, 2015

RT @acampoflores: Puerto Rico's financial crisis is accelerating an exodus to the U.S. mainland, straining cities on the receiving end wsj.com/articles/arriv…

Jul 17, 2015

RT @PaulSonne: 19 years after vowing "one day to retire" in one of the best-ever @WSJ stories: pulitzer.org/archives/6002 End of an era twitter.com/Sanfordism/sta…

Jul 12, 2015

RT @munidog: @davidsirota @kuriloff @Cezary Of course when POBs go bad they will play stupid & say they didn't understand the product they …

Jul 12, 2015

RT @munidog: @davidsirota @kuriloff @Cezary Interesting that banks are shoving POBs & then half pitch books cited are from...wait for it...…

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