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SOURCE Government Development Bank for Puerto Rico (GDB)
SAN JUAN, Puerto Rico, Oct. 23, 2013 /PRNewswire-USNewswire/ -- The Government Development Bank for Puerto Rico (GDB) announced today that, as part of its efforts to increase transparency and improve investor relations, it has made additional disclosure materials available on GDB's website: http://www.bgfpr.com.
In response to investor requests, the Department of the Treasury has published its monthly fiscal year 2014 General Fund Revenue estimates. The Puerto Rico Sales Taxes Financing Corporation (COFINA) has also authorized the posting of certain legal opinions related to the structure of the COFINA credit.
With respect to fiscal year 2014 revenue estimates, the Treasury Department has posted on the GDB's website General Fund Revenue estimates by month for the remainder of the fiscal year.
As stated during GDB's October 15, 2013 webcast, US-based bond counsel, Puerto Rico-based underwriter's counsel and the Puerto Rico Secretary of Justice have provided, for each COFINA transaction, legal opinions that the SUT is not subject to "claw-back" by General Obligation bondholders under the Puerto Rico Constitution. The legal opinions provided for the last COFINA capital markets transaction, completed in 2011, are now available on GDB's website.
GDB also expects to host a conference call with the legal counsel that authored the 2011 COFINA opinions during the week of October 28, 2013 to answer questions about the content of such opinions. Details on how to register and submit questions for the conference call will be available shortly at: http://www.bgfpr.com.
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