Puerto Rico’s Struggling Power Utility Reaches Deal With Bondholders...

Puerto Rico’s power authority and a group of bondholders agreed on a debt restructuring plan to deal with the utility’s $9 billion in debt—an important step in the island commonwealth’s efforts to improve its finances, The Wall Street Journal reported.

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Vendors are demanding cash upfront from concert promoter SFX Entertainment Inc. in the wake of the company’s abandoned effort to go private, The Wall Street Journal reported.

Following the collapse of Corinthian Colleges, almost 12,000 students are asking the federal government to cancel their college loan debt through a U.S. Department of Education mechanism that enables students who believe they were victims of fraud can apply to have their loans discharged, The Associated Press reports.

The developer behind 22 unbuilt luxury condos in downtown Philadelphia filed for bankruptcy, The Philadelphia Business Journal reports.

Potential buyers are circling the bankrupt Fort Oglethorpe hospital in Georgia, the Chattanoogan newspaper reports.

The New York investment firm Blackstone Group LP has agreed to provide mortgage insurer PMI Group with a loan for working capital needs, WSJ reports.

Bloomberg profiles the self-invented Donald Trump, who is “selling himself to America as the king of builders, a flawless dealmaker, and masterful manager.”

Write to Katy Stech at [email protected]. Follow her on Twitter at @KatyStech