Bankruptcy Law

University of Puerto Rico Makes January Payment to Bondholders

Jan. 20, 2021, 8:21 PM

The University of Puerto Rico paid bondholders on Jan. 1 as an agreement between the institution and its creditors to keep debt negotiations out of court is set to expire at the end of February.

  • UPR, one of the few Puerto Rico borrowers that has paid investors on time and in full, has made all the payments required in its pact with creditors through Jan. 1, according to a filing to bondholders posted on the Municipal Securities Rulemaking Board’s website
  • U.S. Bank holds a total $58.8 million in the bond service account and reserve account for UPR debt: filing
  • The...

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