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Consortium has proposed $3.5 bln deal to capitalize Puerto Rico's PREPA -report
May 28, 2015 / 9:23 PM / 2 years ago

Consortium has proposed $3.5 bln deal to capitalize Puerto Rico's PREPA -report

NEW YORK, May 28 (Reuters) - A consortium of York Capital Management, NRG Energy and ITC Holdings have proposed a $3.5 billion deal to bail out Puerto Rico's PREPA, the electric power authority, according to Caribbean Business publication, citing documents obtained from a government source.

The consortium does not include an ad hoc group of PREPA's bondholders, the report said.

Reporting by Megan Davies; Editing by Chris Reese

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