NEW YORK, Sept. 27, 2017 () — The COFINA Seniors Coalition (the “Coalition” or “we“), which collectively represents the largest holder of senior bonds issued by the Puerto Rico Sales Tax Financing Corporation (“COFINA”), released the following statement today regarding the impact of Hurricanes Irma and Maria:
“Our heartfelt thoughts and prayers go out to the more than 3 million U.S. citizens living in Puerto Rico as they navigate the aftermath of Hurricanes Irma and Maria. Although it will take time to determine the full extent of the damage throughout the Caribbean, it is clear that these recent natural disasters have hit Puerto Rico extremely hard and impacted countless businesses, homes and families. We hope that our fellow Americans living in Puerto Rico receive the necessary humanitarian and governmental assistance required to spur a speedy recovery and ultimately strengthen the island’s infrastructure for the long-term.
To help play a small role in the larger disaster response efforts and recovery to come, members of the Coalition will be contributing to the Puerto Rico Chapter of the American Red Cross. Individuals and organizations seeking to learn more about how they can provide support should visit www.redcross.org/local/puerto-rico.”
About the COFINA Seniors Coalition
The COFINA Seniors Coalition is a group of creditors based in Puerto Rico and throughout the United States. It is led by GoldenTree Asset Management LP, Tilden Park Capital Management LP, Whitebox Advisors LLC, as well as other institutional and retail investors. COFINA was the original “rescue bond” established in 2006 following the passage of bi-partisan legislation by the Puerto Rico Legislative Assembly. The COFINA structure offered Puerto Rico access to affordable capital and liquidity that enabled the island to avert its last financial crisis. Today, COFINA bonds are the most widely held bond amongst on-island individuals and retirees.
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SOURCE COFINA Seniors Coalition
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