Wednesday, April 1, 2015

Bondholders offer &u0024;2B boost for Puerto Rico power company

A group of U.S. bondholders on Wednesday offered to invest $2 billion in energy production and other measures that it said would help improve the finances and infrastructure of Puerto Rico’s power company amid fears it will go bankrupt.

The announcement comes just days after the government of the U.S. territory obtained a two-week extension from creditors as the company prepares for a potential restructuring. The Electric Energy Authority holds nearly $9 billion in debt and owes investors some $400 million by July.

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