san juan/new york chance puerto rico power utility prepa reach deal creditors restructure billion debt cast uncertainty friday one deadline pass utility baulk new term offer new one puerto rican lawmakers failure vote friday legislation need make restructure deal work prompt group bondholders offer extend deadline feb. 12 prepa reject change term disappoint ... group grant request extension lisa donahue prepa chief restructure officer say statement prepa remain will continue discussions ad hoc group stakeholders friday deadline pass bondholder group issue statement describe prepa refusal extremely disappoint perplex pressure mount secure deal prepa u.s. supreme court slat hear appeal late year case could allow puerto rico push prepa bankruptcy outcome creditors dread reach deal restructure prepa debt see key fix debt-ridden u.s. territory finance need restructure debts total 70 billion island leaders want u.s. congress allow access u.s. bankruptcy law form court-sanctioned debt restructure process prepa say december reach deal 70 percent creditors bondholders agree accept 15 percent cut repayments exchange new bond high rat work puerto rico need pass legislation enable prepa create new charge customer invoice specifically pay debt new bond could earn high rat creditors expect part propose extension bondholders also offer provide 115 million additional capital however prepa say bondholders change term offer condition regulatory approval puerto rico energy commission imposition additional charge customers without restructure deal place matter could devolve litigation puerto rico prepa 's decline offer fresh debt deal deadline