PREPA Bondholder Group Agrees to Extend Forbearance Agreement with PREPA for 15 Additional Days

NEW YORK--()--The Puerto Rico Electric Power Authority (PREPA) bondholders agreed to extend their forbearance agreement for 15 additional days to provide the framework for a collaborative dialogue that will contribute to PREPA's transformation through a comprehensive plan. 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. PREPA has offered to provide a formal response to the bondholder's revitalization plan by April 24, an informative session between the authority's rate consultant and creditors' advisors by May 4 and the presentation of a formal comprehensive plan by early June.

Contacts

Media:
Sloane & Company
Dan Zacchei / Joe Germani, 212-486-9500
dzacchei@sloanepr.com / jgermani@sloanepr.com

Contacts

Media:
Sloane & Company
Dan Zacchei / Joe Germani, 212-486-9500
dzacchei@sloanepr.com / jgermani@sloanepr.com