About

The Puerto Rico Municipal Finance Agency (“MFA”) was created by the Act No. 29 of June 30, 1972 (the “Act”), as amended, to purchase certain types of municipal loan portfolios from the Government Development Bank for Puerto Rico (“GDB”) in order to provide cash liquidity to the then GDB so that it could continue to provide financings to Puerto Rico Municipalities.  The mechanism that MFA used to purchase GDB municipal loan portfolios was by issuing federal tax-exempt bonds (“MFA Bonds”), where the net cash proceeds of the MFA Bonds would then be used to purchase certain types of GDB municipal loan portfolios.  All of the outstanding MFA Bonds are current.  MFA does not depend on budgetary support or legislative appropriations from the Government of Puerto Rico.