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DennyCrane550

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DennyCrane550

Re: richierichstl post# 7985

Thursday, 04/06/2017 7:11:34 PM

Thursday, April 06, 2017 7:11:34 PM

Post# of 11618
Great stuff, PREPA deal looks like

Syncora
relends 40m, 42m but pays self some of that at high int rate (no face loss)
takes $7.5m hit in the future/over time (15% of ~$50m 2025-2027s)

doesn't have to wrap new bonds - gets out

MBIA, Assured wrap bunch of new exg bonds etc

i sent around some highlights/research


Great news, to get PREPA off the plate.

Syncora should be adjusting and releasing the reserve over time and esp after July 2017 payment Puerto Rico timeline
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