Puerto Rico – Reaches Deal With Creditors To Restructure Sales-Tax Bonds

“Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here. Puerto Rico has reached an agreement with creditors to restructure bonds backed by a portion of its sales tax, according to an announcement from its federal oversight board on Wednesday. The deal marks a significant step in the Commonwealth’s ongoing bankruptcy process. Specifically, it advances negotiations surrounding Cofina, an entity created to issue bonds secured by a portion of the revenues from Puerto Rico’s sales and use tax.”


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