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Puerto Rico Rejects $1B Loan From Power Utility Bondholders

By Ryan Boysen ( September 29, 2017, 2:51 PM EDT) -- Puerto Rico's beleaguered electric power company has rejected its bondholders' offer of a $1 billion debtor-in-possession loan, calling it a cynical and "unsolicited" ploy to boost debt prices and leapfrog other creditors even as the island struggles to rebuild in the wake of Hurricane Maria's devastation. . . .

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