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Out of Money for PRHTA Bondholders

The reserve funds that allowed them to continue charging the debt service are running out

24 de febrero de 2017 - 9:26 AM

Archival note
This content was published more than 7 years ago.
Carlos Contreras Aponte claimed that in spite of not having sent payments since the summer of 2016 to comply with the service of the debt, the trustee has been using a reserve fund to comply with bondholder payments. (Archive/GFR)
Carlos Contreras Aponte claimed that in spite of not having sent payments since the summer of 2016 to comply with the service of the debt, the trustee has been using a reserve fund to comply with bondholder payments. (Archive/GFR)

The Secretary of the Department of Transportation and Public Works, Carlos Contreras Aponte, claimed yesterday that bondholders of the Puerto Rico Highways and Transportation Authority (PRHTA) would cease to receive money for the debt repayment by July, when the reserve funds that have been used until now run out.

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