CUSIP 745211LH3

  • ISIN: US745211LH37
  • Entity Name: Puerto Rico Industrial Development Corporation
  • Sector: Municipal Agency
  • Announcement Date: 05-Apr-2018
  • Effective Date: 01-Apr-2018
  • Issue Date: *****
  • Maturity Date: 01-Jul-2023
  • Country of Issuer: Puerto Rico
  • Region: Caribbean
  • Issue Currency: United States of America Dollars
  • CA Type: Coupon Default
  • News: The Puerto Rico Industrial Development Company (PRIDCO) hereby gives notice to all holders of the General Purpose Revenue Bonds - Series 1997A, and General Purpose Revenue Bonds - Series 2003 (together, the Bonds) issued by PRIDCO pursuant to a trust indenture, dated as of July 1, 1964, as amended or supplemented (the Trust Indenture), between PRIDCO and U.S. Bank Trust National Association, as successor trustee (the Trustee), as follows: On April 2, 2018, by virtue of rollover from April 1, 2018 to the next business day, the Trustee was scheduled to make payments in the aggregate amount of $562,496.87 of interest on certain of the Bonds. Notice is hereby given that such payments on the Bonds have not been made as of the date hereof. Notwithstanding the fact that there are sufficient funds in the Reserve Account to satisfy the interest payment in full, the Trustee exercised its discretion pursuant to the Indenture to not make such debt service payments. As of April 3, 2018, the Trustee stated that the balance in the Reserve Account was $2,390,826.35. PRIDCO refers its holders to the notice posted to EMMA by the Trustee on April 3, 2018 regarding the balance in the Bonds Reserve Account and the Trustees determination to withhold payments on the Bonds pending further developments.
  • Description: Municipal Name: Puerto Rico Industrial Development Corporation CUSIP: 745211LH3 Currency: USD Puerto Rico Industrial Development Corporation announced today that it has not been paid the interest payment due to insufficient money on Revenue Fund for Series 2003, General Purpose Revenue Bonds on April 1, 2018.
  • Bond Document:
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