Puerto Rico Electric Power Authority (PREPA)

Event Publicly Available Information:

The Puerto Rico Electric Power Authority (PREPA) failed to pay certain interest and principal payments that were due to be paid to bondholders on July 3, 2017.

Notice from Trustee


Auction Timeline	Common Event Determination Date: Wednesday, July 12, 2017 Auction Date: Wednesday, August 2, 2017 Auction Settlement Date: Monday, August 7, 2017

Deliverable Obligations	Final List Submission of Potential Deliverable Obligations and Challenges

Auction Settlement Terms	Final Auction Settlement Terms for Puerto Rico Electric Power Authority Blackline against GenOn Energy, Inc. Blackline against Commonwealth of Puerto Rico

List of Participating Bidders	List of Participating Bidders

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Additional Information

Issue Number:

2017071201

Submitted by:

General Interest Question

Category:

Credit Event

Coverage Election:

2003 Definitions

Status:

Closed

Outcome:

Question Decided
Procedural History
- Closed
  
  9/20/2017 09:05am EDT
- List of Participating Bidders Published
  
  List of Participating Bidders
  7/31/2017 10:00am EDT
- Final Auction Terms Published
  
  Final Auction Settlement Terms for Puerto Rico Electric Power Authority
  7/27/2017 05:20pm EDT
- Final List Published
  
  Final List
  7/27/2017 05:05pm EDT
- Supplemental List Published
  
  Supplemental List
  7/24/2017 04:45pm EDT
- Initial List Published
  
  DCDecision07212017
  7/21/2017 05:00pm EDT
- Auction Information Published
  
  DCDecision07212017
  7/21/2017 04:59pm EDT
- Ongoing
  
  July 20, 2017: The DC met to continue discussions on the Puerto Rico Electric Power Authority CDS Auction.
  7/20/2017 05:10pm EDT
- Ongoing
  
  July 18, 2017: The DC met to continue discussions on the Puerto Rico Electric Power Authority CDS Auction. The DC agreed to reconvene on Thursday, July 20, 2017, at 12:30 pm New York time to continue discussions regarding the Auction.
  7/18/2017 05:00pm EDT
- Ongoing
  
  DCDecision07182017
  DC Statement
  7/18/2017 10:30am EDT
- Ongoing
  
  July 17, 2017: The DC met to continue discussions on the Puerto Rico Electric Power Authority CDS Auction. The DC agreed to reconvene on Tuesday, July 18, 2017, at 11:00 am New York time to continue discussions regarding the Auction.
  7/17/2017 04:35pm EDT
- Ongoing
  
  July 14, 2017: The Americas DC resolved that a Failure to Pay Credit Event had occurred with respect to Credit Derivative Transactions that specify Puerto Rico Electric Power Authority as the Reference Entity and CUSIP 74526QKX9 as the Reference Obligation. The DC also voted to hold an Auction. The DC agreed to reconvene on Monday, July 17, 2017, at 12:00 pm New York time to continue discussions regarding the Auction.
  7/14/2017 04:15pm EDT
- Ongoing
  
  DCDecision07142017
  7/14/2017 11:20am EDT
- Ongoing
  
  July 13, 2017: The DC met to discuss whether a Failure to Pay Credit Event had occurred with respect to Puerto Rico Electric Power Authority. The DC agreed to reconvene on Friday, July 14, 2017, to continue the discussion.
  7/13/2017 04:05pm EDT
- Request Accepted by DC
  
  DCDecision07132017
  7/13/2017 09:50am EDT
- Request Accepted by DC
  
  7/12/2017 12:15pm EDT
- Pending DC Consent
  
  7/12/2017 11:55am EDT