Puerto Rico Directs $473 Million to Cover Cofina Debt Service

Oct. 18, 2021, 4:10 PM

Puerto Rico has allocated $472.6 million to repay principal and interest on its sales-tax-backed bonds through June 30, 2022, offering security to holders of the restructured debt.

  • The agency that issued the restructuring bonds deposited the sales-tax revenue with the Bank of New York Mellon, trustee for the securities, called Cofinas, according to a filing to bondholders posted Monday on the Municipal Security Rulemaking Board’s website
  • “Cofina’s independent board of directors and its management are pleased that this milestone was achieved for the third consecutive year, as it evidences Cofinas’s successful restructuring,” Carlos M. Yamín, Cofina’s executive director, said in ...

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