Howard Cure Quoted by Dow Jones on Puerto Rico Bond

April 21, 2010

Evercore Wealth Management partner Howard Cure told Dow Jones that the strong demand from individual investors for the debt of the Puerto Rico Electric Power Authority, or Prepa, was caused in part by the utility's investment flexibility.

"Investors generally like that Prepa can set its own rates," Cure said.

The deal will fund infrastructure projects that are part of a larger $1.7 billion capital-improvement plan.