The Puerto Rico Public Finance Corporation was created in 1984 by resolution of the GDB Board of Directors to provide central government agencies an alternate mechanism to fulfill their financing needs.
The Resolution that created PFC provides that, in the event the entity is dissolved or ceases to exist without the designation of a successor agency, any funds or assets not needed to fulfill the debt service of its bonds or any other obligation shall be transferred to the Puerto Rico Secretary of the Treasury and deposited in the General Fund.
As of June 30, 2013, PFC outstanding debt was approximately $1.1 billion.
For more information on the PFC as a tax-exempt securities issuer, including its most recently released financial statements, click HERE.
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