对冲资金有兴趣即将到来的波多黎各债券发行，希望该领土借钱持续两年

在波多黎各计划出售20亿美元的普通义务债务以平衡其陷入困境的预算之后，对冲基金计划参与这项最新债券，要求美国领土筹集足够的资金，持续两年。据报道，对冲基金还希望英联邦投降其主权豁免权，这将使邦德持有人在纽约法院提起诉讼，而不是与波多黎各司法系统打交道。

The reported hedge funds’ requests point to the awareness that risks involving Puerto Rico have gone up. Just this month, Moody’s Investors Service, Fitch Ratings, and Standard and Poor’s all downgraded the U.S. territory to junk status. Aside from the planned波多黎各邦德offering, which is being underwritten by Morgan Stanley (MS), Barclays Plc (BCS), and RBC Capital Markets (RBC), legislation is in the works to give the Commonwealth up to $3.5 billion of borrowing capacity.

截至6月底，美国领土及其机构的未偿债务约为700亿美元。信用评级机构的降级导致掉期费用和债务的加速付款达到9.4亿美元，在30天内将近一半。

AsInvestment Newsreports, Puerto Rico’s finances have impact outside of the island. Morningstar Inc. says that approximately 70% of U.S. mutual funds concentrating on municipal bonds are holding these securities, which are tax-exempt in America.

Meantime, in the US mutual fund sector, those heavily exposed to Puerto Rico bonds have been selling some of the island’s debt to satisfy investor demands for redemption. Among the sellers is OppenheimerFunds (OFI). CNBC also reports that analysts are saying hedge funds with heavy risk, such as Meehan Combs LP and Maglan Capital, have been more willing to buy from these mutual funds, and even debt funds that are in distress have expressed interest in Puerto Rico bonds. That said, funds without much exposure, are not likely to sell their Puerto Rico debt at cheap prices. (Also, Morningstar data shows that the leading 10 US mutual funds with the largest amount of exposure to Puerto Rico have been struck by close to $3 billion in outflows over the last year.)

Our波多黎各邦德fraud lawyersrepresent investors that purchased these securities through major firms both in the U.S. and Puerto Rico. We are currently representing many clients against firms such as Banco Santander (SAN),UBS (UBS), Banco Popular,Merrill Lynch (MER), and other brokerage firms. Many of the people our attorneys have spoken to have lost a significant portion of their life savings in Puerto Rican debt, with some seeing their funds depleted completely. Contact Shepherd Smith Edwards and Kantas, LTD LLP today to discuss your losses and how we may be able to help.

Hedge funds request Puerto Rico borrow to last two years, InvestmentNews, February 16, 2014
Redemptions force US mutual funds to unload Puerto Rico debt, CNBC, February 8, 2014

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