News Story

San Juan, Puerto Rico — October 26, 2026. The Puerto Rico Sales Tax Financing Corporation (COFINA) announced that on October 20, 2026, the Trustee received the full amount of COFINA Revenues for Fiscal Year 2027: $575,052,631. The milestone was reached 112 days into the fiscal year, which began July 1, 2026.

COFINA Revenues are the first dollars collected each fiscal year from the 5.5% Sales and Use Tax (SUT) pledged to the Corporation, and set by Act 91-2006, as amended, and by COFINA’s 2019 Plan of Adjustment.

With this receipt, the COFINA Revenue Fund held by The Bank of New York Mellon, as Trustee, holds the funds required to pay in full the Fiscal Year 2027 debt service on COFINA’s Series 2019 Bonds. From this point through June 30, 2027, all 5.5% SUT collections flow to the Commonwealth of Puerto Rico.

A Structure That Continues to Perform

In each fiscal year since Fiscal Year 2022, COFINA has received its full pledged revenues within the first four months of the year, in 102 to 113 days, even as the required amount has grown 4% annually as scheduled.

The pace reflects the strength of Puerto Rico’s consumption base. Year-to-date 5.5% SUT collections through October 23, 2026 total $669.6 million, 8.6% above the same period of Fiscal Year 2026. Collections exceeded the prior year in three of the four months to date.

The milestone confirms that the framework established by the Plan of Adjustment, the COFINA Act and the Master Trust Indenture is operating as designed: COFINA’s revenues are received first, the amount is fixed by law, and the balance of the tax benefits the people of Puerto Rico through the General Fund.

The Fiscal Year 2028 cycle begins July 1, 2027, when COFINA Revenues of $598,054,737 will again be funded from the first dollars of the 5.5% SUT.

COFINA will continue to publish collection highlights on this website and to meet its reporting obligations under the Master Trust Indenture, its continuing disclosure undertakings, and the certified Fiscal Plan and Budget.

Statement of the Executive Director

“Reaching 100% of our pledged revenues in 112 days is a clear signal to bondholders, rating agencies and the public that COFINA’s structure works and that Puerto Rico’s economy continues to support it,” said Alejandro Camporreale, Executive Director of COFINA. “Our responsibility now is to administer these funds with the same discipline that produced this result: timely debt service, full compliance with the Plan of Adjustment and the Master Trust Indenture, and transparent reporting. We will continue to work closely with our Trustee, the Department of the Treasury, AAFAF and the Oversight Board to that end.”