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All the proceeds will go to retire debts, reducing the company's total to $2.9 billion from $5.2 billion at the end of June.
Congressional assent is also needed for a plan to let the International Monetary Fund retire debts it holds by using investment income from the sale of its gold reserves.
While it is no surprise that the august institution has a long history of business in the country, it is less well known that it has also made a business of the country's history — writing, for example, the first loan to the federal government (for $20,000) that helped retire debts from the Revolutionary War.
The case involving Mr. Acevedo-Vilá began with accusations of improper fund-raising related to his efforts to retire debts stemming from a successful campaign for resident commissioner, Puerto Rico's nonvoting delegate to Congress, a post he held from 2001 to 2005.
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That money would also be used to retire debt.
And it could use Porsche's profits to retire debt.
But, he said, it might be used to retire debt, acquire new theaters or fix up old ones.
"As there's an effort to retire debt, you have to go back to talk to new people," he said.
"Even though, conceptually, debt consolidation is used to retire debt, it often leads to increased debt burden," he said.
As a result, he said, the entire Social Security surplus could be used to retire debt over the next decade.
By using the cash to retire debt, management could bolster annual earnings growth from about 5 or 10percentto15percentcent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com