NEW YORK--(BUSINESS WIRE)--The Puerto Rico Electric Power Authority (PREPA) Bondholder Group today announced that they have reached a Term Sheet Agreement with PREPA to form the basis of a recovery plan for PREPA. The term sheet contemplates an exchange of outstanding PREPA bond debt. As part of the agreement, the parties will extend their forbearance agreement until September 18, 2015, in order to reach a recovery and support agreement. Under the economic terms of the bond exchange bondholders