The Puerto Rico Sales Tax Financing Corporation (the “Corporation” or “COFINA,” by its Spanish acronym) announced it has launched an investor relations website, cofina.pr.gov, to assist the Corporation in increasing transparency to investors with respect to those certain Puerto Rico Sales Tax Financing Corporation Restructured Sales Tax Bonds, Series 2019A and Puerto Rico Sales Tax Financing Corporation Restructured Sales Tax Bonds, Series 2019B (together, the “COFINA Bonds”) issued in connection with the Third Amended Title III Plan of Adjustment of Puerto Rico Sales Tax Financing Corporation dated January 9, 2019 (the “Plan of Adjustment”) and authorized under Act 91-2006, as amended (the “Puerto Rico Sales Tax Financing Corporation Act”).
The Corporation is one of the first Puerto Rico governmental entities to fully restructure its legacy debt and establish an independent board of directors and operations, but, with the publication of the FY2017 and FY2018 audited financial statements, it has become one of the first issuers in the Commonwealth of Puerto Rico to become current with the publication of its audited financial statements. “Under the guidance of the Corporation’s independent board, the Corporation launches the new investor relations site as part of its ongoing efforts to improve investor engagement, as well as provide an additional level of transparency and disclosure for the Corporation’s bondholders and potential investors,” commented Mr. Mohammad Yassin, COFINA’s Executive Director.
“The new platform, is a corporate-style investor relations site featuring substantial data and documentation detailing the credit fundamentals behind the COFINA Bonds and the Corporation’s strong credit profile,” added COFINA board member Mr. Daniel Heimowitz. The platform is powered by BondLink, a Boston-based financial technology company that provides investor outreach solutions to issuers in the $4 trillion municipal bond market.
Investors of all sizes, from large institutions to small, retail buyers will enjoy free access to information on the easy-to-navigate website. The platform’s tools make credit surveillance simpler for investors, who can register for alerts as documents and sales are added.
BondLink helps issuers in the $4 trillion municipal bond market attract more investors through better disclosure and enhanced technology. BondLink enables institutional investors to automate their credit surveillance of an issuer like the Corporation, and makes it easier for smaller investors, including individuals, to participate in public bond sales.
Since going live in 2016, BondLink has been powering the investor outreach of top issuers in nearly every state and every sector of the bond market. For more information on BondLink, please visit www.bondlink.com.