May 30, 2017 / 3:37 PM / 2 months ago

Puerto Rico will make $13.9 mln pension bond payment due on Thursday

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NEW YORK, May 30 (Reuters) - Puerto Rico's government on Tuesday said it will make a $13.9 million payment on June 1 to bondholders of the island's largest pension, the Employees Retirement System or ERS.

The agreement, announced at a court hearing in federal court in Manhattan, settles a lawsuit filed on Friday as part of ERS' ongoing bankruptcy. It does not resolve a similar dispute over about $16 million owed on June 1 to bondholders of Puerto Rico's sales tax authority, COFINA.

A hearing on the COFINA dispute was underway in the Manhattan court on Tuesday. (Reporting by Nick Brown; Editing by Meredith Mazzilli)

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