HEDGE FUNDS BACK $2.9B BOND SALE
From The San Juan Daily Star:
Contrary to what Treasury Secretary Melba Acosta said, hedge
funds that hold Puerto Rico’s general obligation bonds will
back a proposed bond sale of up to $2.9 billion even after
lawmakers capped the interest rate on the bondsat 8.5 percent,
a source close to the hedge funds told Reuters on Tuesday.
“The rate limit does not change the broad view on Puerto Rico
or the bond sale itself,” said the source, who declined to be
named as details of the transaction were not public. At a news
conference, Acosta said she was not pleased with the bill that
hikes the crude oil tax to $15.50 from $9.25. The hike will
fund the bond issue and mass transit operations. The bond issue
will help pay a $2.2 billion credit line that the Highway and
Transportation Authority has with the Government Develop-
ment Bank to give it liquidity.
MAN MURDERED IN CAYEY
EL Vocero reports that an unidentified man's body was found
last night by Police on 25th Street of the Polvorín neighborhood
in Cayey. The man displayed several gunshot wounds which
presumably killed him instantly. Agents from the Criminal
Investigative Body out of Guayama are in charge of the
LIBERTY ACQUIRES CHOICE CABLE TV FOR $272M
From Fox News Latino:
The Puerto Rican unit of cable television, telephone and broadband
provider Liberty Global on Wednesday announced the acquisition
of local rival Choice Cable TV for $272.5 million, saying the deal
will allow it to reach 80 percent of homes on the U.S. commonwealth
and expand its customer base there by nearly 20 percent.
The transaction, which was announced Wednesday by Liberty
Cablevision of Puerto Rico but still is subject to regulatory approval,
will give Liberty control over the leading cable and broadband services
provider in Puerto Rico's southern and western regions.
Liberty's operations in Puerto Rico are currently focused on the
island's northern, eastern and central regions.
RETAIL SALES UP 1% IN SEPTEMBER
From News Is My Business:
Retail sales of commercial in Puerto Rico were up 1.06 percent in
September 2014 compared to the same month in 2013, Puerto Rico
Trade and Export said Wednesday.
Sales reached $3.09 billion in September 2014, versus $3.06 billion
in September 2013, representing $32 million in added activity, PR
Trade Executive Director Francisco Chévere said.
ALVAREZ VS COTTO SET FOR MAY
From The Int'l Business Times:
It’s not at the level of Floyd Mayweather Jr vs. Manny Pacquiao
but a Canelo Alvarez vs. Miguel Cotto bout would be on top of
the list of the most anticipated fights in 2015. The latter
fight is now being finalised after both Oscar De la Hoya and
Bob Arum admitted that discussions between the two camps have
been going well.
The Alvarez vs. Cotto bout will air on HBO Pay-Per-View (PPV)
on the much-coveted date of the weekend of the Mexican holiday
Cinco de Mayo. The probable venue would be in San Antonio,
Dallas, Las Vegas or New York, also according to De La Hoya.
The 34-year-old Cotto (39-4-0, 32 KOs), who is from Caguas,
Puerto Rico, is coming off back-to-back victories. Meanwhile,
the 24-year-old Alvarez (44-1-1, 31 KOs), who is from Tlajomulco
de Zúñiga, Jalisco, Mexico, is also coming off two wins in a
row over Alfredo Angulo (10th round TKO) and Erislandy Lara
(12 rounds split decision).