News Story

(October 21, 2022 - San Juan, Puerto Rico) - The Puerto Rico Sales Tax Financing Corporation (“COFINA”) confirmed that sales and use taxes received and deposited between July 1, 2022 and October 21, 2022 with The Bank of New York Mellon (“BNY”), as Trustee for the COFINA bonds, total $491,557,399 (“COFINA Revenues”), which equals the amount of sales and use taxes owned by COFINA for fiscal year 2023.

This marks the fourth time since the restructuring of COFINA’s bonds, pursuant to Act 241-2018 and COFINA’s Third Amended Title III Plan of Adjustment (the “COFINA Plan of Adjustment”) confirmed by the U.S. District Court for the District of Puerto Rico pursuant to Title III of the Puerto Rico Oversight, Management and Economic Stability Act (“PROMESA”), that COFINA receives the sales and use taxes which were determined to be its property.