debt payment

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Puerto Rico to Default on $370M Debt Bill

An even bigger payment of $1B is due July 1

(Newser) - Big financial trouble for Puerto Rico: The government won't make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the US territory's spiraling debt crisis. Gov. Alejandro Garcia Padilla said Sunday he had issued an executive order suspending... More »

AIG Close to $35B Sale—and $16B Bailout Payback

Asian unit to be bought by British Prudential

(Newser) - A British company is about to buy the Asian unit of insurance giant AIG in a $35 billion deal that would enable AIG to make the biggest repayment yet toward its $180 billion bailout debt to the US government. British Prudential's purchase of Hong Kong-based AIG unit AIA would yield... More »

Debt-Happy US Faces Payback Time as Rates Rise

Cost of debt to skyrocket $500B in next 10 years

(Newser) - Like a homeowner heading for mortgage default as interest rates rise, the US is heading for a nasty shock as cheap national debt suddenly becomes much more expensive. The White House estimates that the cost of servicing our $12 trillion debt will be more than $700 billion a year by... More »

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