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Old 07-02-2015, 05:43 AM   #21
Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,184
Originally Posted by clifp View Post
I've held some PR infrastructure financing bonds (evidently Rum tax) since 1999 which mature in 2017. The 5.5% coupon has been paid faithfully every 6 months.

I have to admit I was anxious today, but I just checked my account and the interest payment was deposited :dance

Every since Brewer alerted to me of the problem many years ago I've been trying to figure out what to do with them. The Schwab quote of $97.13 I know from past experience isn't actually what I can sell them for so I've just been holding them. Last I looked I was getting approximately 15%/year to hold them.

They are insured although it is far from clear that bond insurance company has the money to pay the claims. Some of the final structurally damaged caused by the great recession.

For what it is worth I think I'd sell.. It may be a slow death but I see nothing but bad things for PR debt.

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