NEW YORK--(BUSINESS WIRE)--The Puerto Rico Electric Power Authority (PREPA) bondholders agreed to extend their forbearance agreement for 35 additional days to provide the framework for a collaborative dialogue that will contribute to PREPA's transformation through a comprehensive plan. The newly extended forbearance agreement will expire on June 4. During the new forbearance period, PREPA will have the opportunity to provide information to its creditors and meet on a timely basis to discuss all the elements of a plan that will improve PREPA. Under the agreement PREPA has agreed to provide an informative session between the authority's rate consultant and creditors' advisors by May 11 and deliver a proposal for a comprehensive recovery plan to the bondholders’ advisors by June 1. Both dates are within the 35 day time frame.