WebMay 30, 2024 · In addition to this latest halt, Swain has decided to wait to resolve two other disputes, including whether COFINA is in default on the $17 billion of debt that is its responsibility and if general obligation bondholders are entitled to receive sales-tax receipts that are backing COFINAs as payment. WebNov 24, 2016 · COFINA debt service is 8% of general fund revenue and rising. Extra-constitutional debt service takes another 5%, plus 4% to redeem optional pay notes. Constitutional debt service is 13.5% and...
Puerto Rico COFINA Bonds Default If You Suffered Loses …
WebMar 15, 2024 · A suit by subordinate Puerto Rico Sales Tax Finance Corp. (COFINA) bondholders may have implications for Puerto Rico Electric Power Authority and other Puerto Rico bonds, a Puerto Rico analyst not ... WebFeb 8, 2024 · The COFINA plan is the first debt adjustment approved under the bankruptcy-like Title III process of PROMESA; future plans will be needed to restructure several other pools of debt totaling over $50 billion. techests_prologue.ff
COFINA debt restructuring completed on Feb. 12 Bond …
WebJan 9, 2024 · COFINA bonds have not been validated in a court of law. To prove that point or at least raise doubts and questions among non-believers, consider the following bond counsel opinion and other risk ... WebMar 25, 2024 · COFINA consisted of two distinct sets of bonds: the current interest bonds, and the capital appreciation bonds (the municipal bond market's version of zero coupon bonds). Before Maria,... WebMay 5, 2024 · Bank of New York Mellon Corp., the trustee for $17 billion in sales-tax bonds known as Cofinas, notified Puerto Rico in a Thursday letter that it believes events of … tech etch emi