A federal control board overseeing Puerto Rico's finances has made a significant move to address the territory's debt. The board has offered a settlement to bondholders of the Puerto Rico power company.

The proposed settlement is valued at $3 billion and aims to restructure the company's debt. The power company's total debt is over $10 billion.

Further details about the settlement, including the terms and what it entails, are available from the source. The proposal is part of a larger effort to manage Puerto Rico's financial situation.