Puerto Rico’s government plans to expand its ability to issue its sales tax-backed COFINA bonds.

The government expects to introduce a bill to increase the sales and use tax percentage allocated to COFINA to 3.5% from 2.75%, the government announced. Increased revenues for the bonds will increase the government’s ability to issue them, the Treasury Department and Government Development Bank of Puerto Rico said in a press release.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.