NewsWhore
01-22-2009, 06:00 PM
The government will undertake payment of some of the debt it has with electricity generators through a bond issue for US$250 million. The total debt comes to more than US$700 million, according to today's El Caribe.
The generators, nonetheless, have conditioned their acceptance of the payment because they have not been told when the bonds come due or the condition of the rest of the debt.
The guarantee, according to Pedro Pena Rubio, coordinator of the CDEEE Distribution Committee is only waiting for the Ministry of the Hacienda to authorize the emission, the conditions and the interest rate that will be paid.
The payment proposal, worked out last 14 January, says that the current debt will be distributed among 14 generators.
Pena Rubio explained that the decision to pay with bonds was approved by the congress at the end of 2008, with a total of RD$10.7 billion (about US$350 million).
Quoted in El Caribe, he said that the emission could be acquired by the national banks or international entities or by the same generators that have capital available. He did not say when all this would take place.
More... (http://www.dr1.com/index.html#7)
The generators, nonetheless, have conditioned their acceptance of the payment because they have not been told when the bonds come due or the condition of the rest of the debt.
The guarantee, according to Pedro Pena Rubio, coordinator of the CDEEE Distribution Committee is only waiting for the Ministry of the Hacienda to authorize the emission, the conditions and the interest rate that will be paid.
The payment proposal, worked out last 14 January, says that the current debt will be distributed among 14 generators.
Pena Rubio explained that the decision to pay with bonds was approved by the congress at the end of 2008, with a total of RD$10.7 billion (about US$350 million).
Quoted in El Caribe, he said that the emission could be acquired by the national banks or international entities or by the same generators that have capital available. He did not say when all this would take place.
More... (http://www.dr1.com/index.html#7)