News Story

COFINA Achieves Fiscal Stability Milestone in FY25 with Increased Revenue Target and Continued Transparency

(October 31, 2024 - San Juan, Puerto Rico) - The Puerto Rico Sales Tax Financing Corporation (“COFINA” and/or the “Corporation”) confirmed that as of October 23, 2025, it has received and deposited $531,668,486 in sales and use taxes with The Bank of New York Mellon (“BNY”), as Trustee for the COFINA bonds. This figure represents the total sales and use tax revenue projected for COFINA in Fiscal Year 2025, marking the sixth consecutive year of achieving full projected collections. The FY25 target reflects an increase from the FY24 figure of $511,219,696.

The transfer of the required COFINA Revenues between July 1, 2024, and October 23, 2025, was successfully completed, aligning with the Corporation’s obligations under Act 241-2018 and the Third Amended Title III Plan of Adjustment confirmed by the U.S. District Court for the District of Puerto Rico. "This achievement underscores COFINA’s financial stability and reinforces the success of its restructuring efforts,” said COFINA’s Executive Director.

The Corporation remains committed to providing transparent and timely updates to its stakeholders, consistently demonstrating COFINA’s financial resilience and reliability in the capital markets.