July 1 The head of Puerto Rico's Government
Development Bank said all payments due July 1 on the
commonwealth's general obligation debt and bonds associated with
its public power and highway authorities were made as scheduled
In a statement, GDP Chairman David Chafey said about $721.97
million was paid to service GO bonds and $417.56 million was
paid on bonds issued by the Puerto Rico Electric Power
Authority, or PREPA.
The U.S. municipal bond market has been on edge over whether
PREPA would make the payment following new legislation enacted
last week that permits the island's public corporations to
restructure their debts through a bankruptcy-like process.
(Reporting by Dan Burns; Editing by Lisa Shumaker)