The Puerto Rico Sales Tax Financing Corp. (COFINA) has launched a website for investors in its municipal bonds.
The website aims to provide information about the bonds and to advertise the new restructured bonds as creditworthy.
In May 2017 the Puerto Rico Oversight Board put $17.9 billion of COFINA bonds into the Title III bankruptcy process in the Puerto Rico Oversight, Management, and Economic Stability Act. In February the U.S. District Court approved the restructuring of the bonds, with the new bonds’ par value being $12 billion.
“The new platform,
Along with a home page, the website has sections devoted to “About,” “Bonds,” “Documents” and “Resources.” Investors can register for alerts as documents and sales are added.
The platform is powered by BondLink, a Boston-based financial technology company focusing on the municipal bond market.
The disclaimer on the site says: “no person should make any investment decision in reliance upon the information contained herein. ... It does not purport to include every item that may be relevant, nor does it purport to present full and fair disclosure with respect to COFINA’s bonds within the meaning of applicable securities laws and regulations.”
Puerto Rico’s Fiscal Agency and Financial Advisory Authority announced the launch of the site in a written statement Tuesday.
