Puerto Rico's Prepa to miss restructuring deadline

Puerto rico's debt-laden power authority, Prepa, said on Friday that it will hold off on presenting a restructuring plan to creditors as it continues to negotiate an extension of forbearance agreements with bondholders and lenders.

The current agreement, which expires on March 31, had called for a deadline of this Monday for Prepa to unveil a proposal to restructure about $9 billion in debt. But it will miss that deadline, Lisa Donahue, Prepa's chief restructuring officer, said in a statement. (Reporting by Megan Davies and Nick Brown; Editing by Bernard Orr)

Puerto Rico's Prepa to miss restructuring deadline

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