{"id":3641,"date":"2016-07-29T00:00:00","date_gmt":"2016-07-29T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/07\/puerto_rico_likely_to_default"},"modified":"2022-03-09T15:57:50","modified_gmt":"2022-03-09T21:57:50","slug":"puerto-rico-likely-to-default","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/","title":{"rendered":"Puerto Rico Likely To Default on Bond Payments Due on August 1"},"content":{"rendered":"<p>\t\t\t\tOn August 1, the U.S. Commonwealth of Puerto Rico and its agencies will owe roughly $346 million in bond payments. This latest deadline comes one month after the U.S. Territory defaulted on nearly $1 billion of bond payments that were due on July 1. According to Bloomberg, here is what is due:<\/p>\n<p>\u00b7 The Puerto Rico Sales Tax Financing Corp. (often called \u201cCOFINAs\u201d) owes about $256 million of principal plus interest in COFINAs. S &amp; P Global Ratings has said that the bond trustee has the money to pay the debt that is due next week. COFINAs are paid back from the Commonwealths\u2019 sales tax. This local agency has $15.2 billion of outstanding debt.<\/p>\n<p>\u00b7 Every month, the territory owes $13.9M of interest, which Puerto Rico has not defaulted on yet.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/#more-3641\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 1, the U.S. Commonwealth of Puerto Rico and its agencies will owe roughly $346 million in bond payments. This latest deadline comes one month after the U.S. Territory defaulted on nearly $1 billion of bond payments that were due on July 1. According to Bloomberg, here is what is due: \u00b7 The Puerto [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3922,4039],"tags":[],"class_list":["post-3641","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds","category-puerto-rico-bond-funds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Puerto Rico Likely To Default on Bond Payments Due on August 1 &#8212; Investor Lawyers Blog &#8212; July 29, 2016<\/title>\n<meta name=\"description\" content=\"On August 1, the U.S. Commonwealth of Puerto Rico and its agencies will owe roughly $346 million in bond payments. This latest deadline comes one month &#8212; July 29, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Puerto Rico Likely To Default on Bond Payments Due on August 1 &#8212; Investor Lawyers Blog &#8212; July 29, 2016\" \/>\n<meta name=\"twitter:description\" content=\"On August 1, the U.S. Commonwealth of Puerto Rico and its agencies will owe roughly $346 million in bond payments. This latest deadline comes one month &#8212; July 29, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Puerto Rico Likely To Default on Bond Payments Due on August 1 &#8212; Investor Lawyers Blog &#8212; July 29, 2016","description":"On August 1, the U.S. Commonwealth of Puerto Rico and its agencies will owe roughly $346 million in bond payments. This latest deadline comes one month &#8212; July 29, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/","twitter_card":"summary_large_image","twitter_title":"Puerto Rico Likely To Default on Bond Payments Due on August 1 &#8212; Investor Lawyers Blog &#8212; July 29, 2016","twitter_description":"On August 1, the U.S. Commonwealth of Puerto Rico and its agencies will owe roughly $346 million in bond payments. This latest deadline comes one month &#8212; July 29, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Puerto Rico Likely To Default on Bond Payments Due on August 1","datePublished":"2016-07-29T05:00:00+00:00","dateModified":"2022-03-09T21:57:50+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/"},"wordCount":461,"articleSection":["Municipal Bonds","Puerto Rico Bond Funds"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/","url":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-likely-to-default\/","name":"Puerto Rico Likely To Default on Bond Payments Due on August 1 &#8212; Investor Lawyers Blog &#8212; July 29, 2016","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-07-29T05:00:00+00:00","dateModified":"2022-03-09T21:57:50+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"On August 1, the U.S. Commonwealth of Puerto Rico and its agencies will owe roughly $346 million in bond payments. 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