Puerto Rico Demand Bonds are financial instruments issued by the government of Puerto Rico in order to raise funds for various projects and initiatives. These bonds are known for their flexibility, as they can be demanded for payment by the bondholder at any time, hence the name "demand" bonds. The Puerto Rico Demand Bonds offer investors a relatively safe investment option, backed by the credit and taxing authority of the Puerto Rican government. They are often considered an attractive investment due to the potential for higher yields than other fixed-income securities. There are several types of Puerto Rico Demand Bonds, including but not limited to: 1. General Obligation Bonds (GO Bonds): These are secured by the full faith and credit of the Puerto Rican government. They are backed by the government's ability to levy taxes, making them one of the safest types of demand bonds. 2. Revenue Bonds: These bonds are backed by specific revenue streams, such as tolls, fees, or lease payments, generated by a particular project. The revenue generated from the project is used to repay the bondholders. 3. Municipal Utility Authority Bonds: These bonds are issued by municipal utility authorities to finance the development and maintenance of public utilities, such as water or power systems. The revenue generated by the utility services is used to meet the bond payment obligations. 4. Infrastructure Development Bonds: These bonds are issued to fund large-scale infrastructure projects, such as roads, bridges, airports, or public facilities. The payments to bondholders are generated from the income generated by the funded projects, such as toll revenues. It is important to note that Puerto Rico Demand Bonds have faced challenges in recent years due to the financial difficulties faced by the government of Puerto Rico. These challenges have led to a debt crisis that has impacted the ability of the government to meet its payment obligations. As a result, investors should carefully assess the risks associated with investing in Puerto Rico Demand Bonds and consider consulting with a financial advisor before making any investment decisions.
Puerto Rico Demand Bond
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They are issued under resolutions adopted by COFINA's board of directors will be payable from and secured by a security interest created by the Resolution in a specified portion of the Puerto Rico Sales and Use Tax ("Pledged Sales Tax").
Hear this out loud PauseBy 2015, Puerto Rico defaulted on a $58 million bond payment and by January 2016 had defaulted on another $174 million in bond debt. As a result, the value of Puerto Rico's municipal bonds (and any corresponding closed-end bond funds) has fallen dramatically, causing substantial losses for investors.
Puerto Rico's financial oversight board is considering slashing ? by about half ? the amount of new bonds it claims the island's bankrupt power utility can repay, a potential offering that bondholders will most likely reject.
Hear this out loud PauseThe crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it could pay its debt. The downgrading, in turn, prevented the government from selling more bonds in the open market.
More than eight years after the Puerto Rico Electric Power Authority stopped paying its bonds and with most other Puerto Rico municipal issuers having since restructured their bonds, eight Puerto Rico bonds continue to pay in full and on time.
Prominent bond traders said appetite for restructured Puerto Rico bonds is high and the future will likely bring greater market acceptance.
Hear this out loud PauseAll bonds issued by the Government of Puerto Rico, or by its authority, shall be exempt from taxation by the Government of the United States, or by the Government of Puerto Rico or of any political or municipal subdivision thereof, or by any State, Territory, or possession, or by any county, municipality, or other ...
