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(task) Puerto Rico Electric Power Authority: Private Company Information - Bloomberg

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> https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=12436895 <https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=12436895>
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> Company Overview of Puerto Rico Electric Power Authority
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> November 12, 2017 12:23 AM ET
> Electric Utilities
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> Company Overview
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> Puerto Rico Electric Power Authority engages in the production, transmission, and distribution of electric power in Puerto Rico. It primarily serves residential, commercial, and industrial clients, as well as government agencies and municipalities. The company was founded in 1941 and is based in San Juan, Puerto Rico.
> PO Box 364267
> San Juan, PR 00936-4267
> United States
> Founded in 1941
> Key Executives for Puerto Rico Electric Power Authority
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> Compensation as of Fiscal Year 2017.
> Puerto Rico Electric Power Authority Key Developments
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> Puerto Rico Electric Power Authority Announces Intent to Cancel its $300 Million Dollar Contract with Whitefish Energy
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> Oct 29 17
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> Puerto Rico Electric Power Authority announced intent to cancel its $300 million dollar contract with Whitefish Energy: The Whitefish Energy contract should be canceled. An investigation to determine how got into this situation in the first place must continue. Taxpayers should pay a fair rate for the emergency repairs Puerto Rico desperately needs--not be gouged by Whitefish Energy or anyone else.
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> Electrical Workers Union Sues to Overturn Puerto Rico Electric Power Authority Reform Law
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> Apr 20 16
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> The primary union at the Puerto Rico Electric Power Authority has sued to overturn a law that was passed as part of the authority's restructuring agreement with creditors. The Union of Electrical Industry and Irrigation Workers (UTIER)filed the suit Tuesdayin Superior Court of San Juan. Alejandro GarcÃa Padilla signed the Law for the Revitalization of the Puerto Rico Electric Power Authority, in February. In the suit the union claims the law limits the rights of PREPA workers to access justice, violates constitutional protections prohibiting impairments of contractual relations and laws guaranteeing equal protection of the laws. In addition the suit claims that the new law undermines the authority's pension system, which has an actuarial debt of $1.7 billion. Along with the union, union president \xC3ngel Figueroa Jaramillo, and member of the state council of the union and vice president of the retirement system of PREPA employees José Rivera Rivera are the plaintiffs. The defendants are PREPA, the Corporation for the Revitalization of the Puerto Rico Electric Power Authority, the Puerto Rico Energy Commission, Puerto Rico Chief Financial Officer Melba Acosta Febo, Puerto Rico Treasurer Juan Zaragoza Gómez, Puerto Rico Secretary of State VÃctor Suárez Meléndez, and Puerto Rico Justice Secretary César Miranda RodrÃguez.
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> The Puerto Rico Electric Power Authority Prepares to Privately Place $111 Million by March 28
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> Mar 14 16
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> The Puerto Rico Electric Power Authority, moving forward with its restructuring agreements, is preparing to privately place $111 million in bonds by March 28. The bonds are part of the restructuring support agreements the authority has signed with successive groups of its creditors since September. The bonds' terms have been outlined in the bond purchase agreements that have accompanied the agreements. The RSA and BPA of Jan. 27 indicated that Assured Guaranty, National Public Finance Guarantee, Oppenheimer Funds, Marathon Asset Management, Knighthead Capital Management, Goldman Sachs Asset Management, Franklin Advisors, BlueMountain Capital Management, and Angelo, Gordon & Co. commit to purchasing two bonds, each of $55 million. Both series of bonds are to mature serially and bear a 10% annual interest rate, according to the BPA. Interest will be paid every six months and the bonds will have a final maturity on July 1, 2019. The bond purchase agreement says that the bond purchasers must buy the Series 2016A bonds by 10 a.m. on March 22 and the Series 2015B bonds by 10 a.m. on March 28.
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