Puerto Rico Electric Says Agreement Reached With Bondholders

Updated on
  • Bondholders and Assured Guaranty said to extend forbearance
  • MBIA said to reject debt agreement and refuse extension

Puerto Rico’s Electric Power Authority said it has reached an agreement with some bondholders and hedge funds to restructure $8.3 billion of the agency’s debt, with investors taking losses of as much as 15 percent in a debt exchange.

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