Reuters – Hedge funds negotiating with Puerto Rico’s public power authority PREPA over a possible restructuring of more than $8 billion in bonds include two involved in Argentina’s protracted bond negotiations, Knighthead Capital Management and Redwood Capital Management, according to the full bondholder agreement published on Thursday [Aug. 21].
Creditors entered into a forbearance agreement with PREPA on Aug. 14. The current document includes a list of all the bondholders, who represent 60 percent of PREPA’s $8.3 billion in outstanding revenue bonds. The hedge funds also include David Tepper’s Appaloosa Management.
