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Governor pitches for business as 1 in five 5 islanders remains without power
Governor says utility is a “heavy burden”.
The hurricane tragedy is an opportunity to revitalise the island
Utility company bondholders offer to inject $1bn in new loans for rebuilding effort
Deal to cut Prepa’s $9bn debt seen as blueprint for other troubled entities
Prepa was seen as blueprint for island’s other indebted agencies
Island seeks reinstatement of law that would allow utilities to restructure their debt
Bondholders agree 15% haircut and receive newly securitised paper
Bondholders set for haircut of up to 45% but utility bond talks offer possible restructuring model
Territory will seek to restructure its liabilities, governor says
New debt law backfired on government and means restructuring is coming sooner rather than later
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