August 14, 2014 / 11:40 PM / 4 years ago

Puerto Rico electric utility to pay ABR plus 4 pct on credit lines -filing

NEW YORK, Aug 14 (Reuters) - Puerto Rico’s electric power authority, known as PREPA, will pay an interest rate of alternate base rate (ABR) plus 4 percent under credit agreements with Scotiabank and Citibank, the utility said in a filing on Thursday.

PREPA disclosed the rate in a filing on a site of the Municipal Securities Rulemaking Board. It earlier said that banks extended a vital line of credit to March 31 from a previous deadline of Thursday. (Reporting by Hilary Russ and Ed Krudy; and Luciana Lopez; Editing by Ken Wills)

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