Bankruptcy Member Addresses Puerto Rico Bond Situation

Bankruptcy Member Zach Smith was quoted in Debtwire Municipals’ article “Puerto Rico bonds buoyed by lack of supply expected to price in high 8% range.”  The article, which published on the cusp of Puerto Rico’s March 11 sale of $3.5 billion in general obligation bonds, can be seen in its entirety here. 

“’When I see language about public funds and the enforcement of remedies, I see an offshoot of the political and legislative discourse,’” Smith stated.  “’These issues are interesting to the restructuring community and given the nature of the disclosure, it seems likely that the analysis and discussion of these issues will only continue.’”

Debtwire Municipals is the leading news-breaking source on distressed and high-yield single-name borrowers in the USD 3.7tn municipal bond market.