August 15, 2014 / 3:20 PM / 3 years ago

Puerto Rico's power authority bonds jump after Thursday agreement

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NEW YORK, Aug 15 (Reuters) - Bonds of Puerto Rico's power authority PREPA reached their highest price in nearly two months on Friday, a day after the troubled utility reached a deal with creditors to extend credit lines and develop a plan to restructure the business.

PREPA bonds due in 2035 with 5.25 percent coupon traded up 6 cents at average price of 53 cents on the dollar and yield of 11.063 percent. The bonds traded at their highest level since June 18. (Reporting by Edward Krudy)

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