Puerto Rico to present PRASA bond offer to investors - official
Aug 17 (Reuters) - Puerto Rico is to conclude its presentation to investors regarding an upcoming sale of revenue bonds from its water authority PRASA later on Monday, the governor's chief of staff Victor Suarez told reporters.
PRASA last week filed to sell $750 million in revenue bonds to fund various system improvements and refinance loans, according to an offering document.
Investors said the commonwealth will have to overcome several obstacles to raise the money after a default earlier this month.
The governor's chief of staff Victor Suarez also said officials will meet on Monday to talk about the government's liquidity options and will know more regarding the market interest by Tuesday.
Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt, totaling $72 billion, was unpayable and required restructuring. (Reporting by a contributor in San Juan, writing by Megan Davies, editing by G Crosse)
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