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Even though Cofina owes $17,880 million in main and subordinated bonds, the petition filed by the OB merely indicates that the public corporation is interested in negotiating some $221 million in debts. (Archive / GFR Media)
Even though Cofina owes $17,880 million in main and subordinated bonds, the petition filed by the OB merely indicates that the public corporation is interested in negotiating some $221 million in debts. (Archive / GFR Media)

The Oversight Board (OB) last night filed a petition to apply Title III of PROMESA to the Puerto Rico Sales Tax Financing Corporation (Cofina, by its Spanish acronym).