October 26, 2016 / 11:37 AM / 2 years ago

Monarch's Herenstein: Puerto Rican GO bonds still best investment idea

TEL AVIV, Oct 26 (Reuters) - Andrew Herenstein, chief investment officer at Monarch Alternative Capital, said on Wednesday he recommends investors buy Puerto Rico’s general obligation (GO) bonds on the belief there will be a deal with the U.S. government over difficulty in paying pack its debt.

“We believe having a deal within a year is certainly possible,” Herenstein said at the Sohn Investment Conference in Tel Aviv. “There is a very, very substantial return for investors with limited downside because of negotiations that have taken place and legal protections that investors have.” (Reporting by Steven Scheer and Tova Cohen)

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