Puerto Rico’s PREPA Catches A Break To Keep The Lights On

Mani

Published onAugust 15, 2014

Updated on May 13, 2021

The Puerto Rico Electric Power Authority got a breather on Thursday in the form of an extension of vital lines of credit which it uses to buy oil. The cash-strapped utility also agreed with bondholders to develop a restructuring plan to revive it.

Earlier PREPA was facing a deadline on Thursday to extend its lines of credit with banks or a face a possible restructuring of about $9 billion in total debt.

Puerto Rico to complete five-year plan by December

The debt-stricken utility said Thursday that...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Puerto Rico’s PREPA Catches A Break To Keep The Lights On

Puerto Rico to complete five-year plan by December

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