Creditors of Puerto Rico's power authority, PREPA, have offered it $2 billion in financing, including $1.2 billion to fund a new natural gas operation, in exchange for assurances that it would repay its debt, two people close to the matter told Reuters on Saturday.
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Hopes of an orderly resolution to Puerto Rico's debt crisis suffered a heavy blow after a court voided the island's restructuring law, raising fears it may be heading for a longer, messier debt overhaul.
Puerto Rico's PREPA announced that they are set to announce the pricing for their mid-August bond deal.
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