U.S. Markets closed

Puerto Rico's utility offers 15-day extension to bondholders

April 14 (Reuters) - Puerto Rico's troubled power utility PREPA has offered to extend an existing forbearance agreement by another 15 days, it said in a statement late on Tuesday.

PREPA's offer comes after a group of bondholder's proposed a 30-day extension to the agreement.

A forbearance agreement is a form of payment relief that stops a creditor from declaring a debtor in default to give it time to repay delinquent sums.

The agreement was set to expire on Wednesday.

(Reporting by Narottam Medhora in Bengaluru; Editing by Lisa Shumaker)