San Juan – The executive director of the Financial Advisory Authority and Fiscal Agency (AAFAF), Omar J. Marrero Díaz announced that the Puerto Rico Urgent Interest Fund Corporation (COFINA) received all the funds for the annual payment to its bondholders .
Said funds come from the first collections of 5.5% of the sales and use tax (SUT), in accordance with the COFINA Adjustment Plan.
The main financial official of the Government of Puerto Rico reported that COFINA received and deposited in Bank of New York Mellon, as trustee of the COFINA Bonds, the income from the SUT for fiscal year 2021.
“Our government is committed, not only to seeking financial aid for all of us who live on this island, but also to fulfilling its fiscal responsibility. We want to get out of bankruptcy as soon as possible and steps like these are important in order to achieve this, ”said the governor.
COFINA revenues collected from July 1, 2020 through October 19, 2020, totaled $ 454,472,448.
“Once again we highlight our commitment to the restructuring agreements reached, coupled with the effectiveness of our tax administration, which is reflected in the collection for payment to COFINA bondholders. This management is another significant step in our fiscal route and access to capital markets ”, expressed Omar J. Marrero Díaz, executive director of the AAFAF.
For his part, the Secretary of the Department of the Treasury, Francisco Parés Alicea, highlighted that the Government of Puerto Rico completed the payment to COFINA that is made under the Adjustment Plan, less than four months into this fiscal year.
“Having successfully met this goal a second time and in record time, is a source of great satisfaction for us”, expressed Parés Alicea.
“COFINA’s independent Board of Directors and its management highlight as an achievement that the Corporation has reached this goal for the second consecutive year. With this, the success of COFINA’s restructuring is evidenced “, added the Atty. Carlos M. Yamín, executive director of the Corporation.
For additional information please visit the COFINA portal, www.cofina.pr.gov .