Puerto Rico Electric Gets $55 Million Funding From Creditors

Updated on
  • The ‘relending’ bonds are deemed exempt from debt moratorium
  • Utility was first to reach negotiated agreement with investors

Puerto Rico’s government-run electric utility resurrected a deal with creditors willing to lend it $111 million, a sign of slow-moving progress in the island’s first negotiated agreement to cut some of its $70 billion of debt.

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