Puerto Rico, in the midst of seeking to restructure its debts, was making at least $41.2 million of payments of $99.5 million due on Wednesday, according to rating agency and government sources.
A Government Development Bank for Puerto Rico spokeswoman said the University of Puerto Rico would pay its interest due, the Public Building Authority would pay the principal and interest due, and the GDB would pay its interest due by the end of the business day.
The commonwealth, the GDB, its university, and several of its authorities and public corporations owed payments on Wednesday that, according to Moody's Investors Service, totaled $100.7 million.
Moody's total included $1.2 million from the Puerto Rico Aqueduct and Sewer Authority. PRASA chief financial officer Efraín Acosta denied that the authority owed any debt service that day.
According to Moody's the university owed $31.3 million and the GDB owed $9.9 million. Moody's did not explicitly break out PBA debt. The university only owed interest.
The spokeswoman didn't say if the GDB figure was for interest only and didn't respond to a separate inquiry about the other debts.
Puerto Rico had $69.2 billion of public debt outstanding as of Dec. 15, GDB President Melba Acosta Febo testified in a Puerto Rico House hearing Tuesday. Moody's estimates $1.9 billion of payments are due July 1.
Other than the PRASA debt Moody's said Puerto Rico had the following debt due June 1:
General Obligation, $3 million; Industrial Development Authority, $0.6 million; Sales Tax Financing Corp., $17.5 million; GDB $9.9 million; Highways and Transportation Authority, $0.6 million; University of Puerto Rico, $31.3 million; Employees Retirement System (bonds), $13.9 million; and Public Finance Corp., $22.7 million.
The PFC has not been paying its debt since the summer of 2015 and was expected to continue to default on Wednesday.
