July 1, 2014 / 11:16 PM / 3 years ago

Puerto Rico makes all July 1 debt payments -GDB chairman

July 1 (Reuters) - 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 on Tuesday.

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)

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