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Hedge Funds Bask In Puerto Rico Bond Deal

by posted 2months ago 44 views
A small group of hedge funds are being rewarded for backing an $18 billion restructuring of Puerto Rico’s sales-tax debt that saddled other investors with losses. Tilden Park Capital Management LP and GoldenTree Asset Management LP are among the credit-market specialists that have reaped hundreds of millions of dollars in paper profits on those revenue bonds and are poised to collect more under settlement terms that provide them with stronger claims to repayment than before, according a Wall Street Journal analysis of court...

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