Puerto Rico Sales Tax Financing Corp.’s debt exchange put into effect
SAN JUAN – As previously reported, the plan of adjustment of the Puerto Rico Sales Tax Financing Corp. (Cofina by its Spanish acronym) that was confirmed in federal court Feb. 5, came into effect Wednesday, with the issuance of about $12 billion of new sales tax revenue bonds.
The island’s financial oversight board also officially announced that it unanimously certified Monday, Feb. 11, the fiscal year 2019 budget for Cofina, which “includes funds to cover COFINA’s past and future operating expenses.”
See the Cofina compliance certification and budget delivered to Gov. Ricardo Rosselló.
Cofina debt adjustment plan slated to go into effect Tuesday
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