Gov’t releases RFQ for new strategic advisor, legal counsel

Written by  //  January 5, 2017  //  In-Brief  //  No comments

Gerardo Portela

The new administration under Puerto Rico Gov. Ricardo Rosselló on Wednesday released a Request for Qualifications (RFQ), seeking a new strategic advisor and legal counsel to move ahead with restructuring the Commonwealth’s $68 billion debt.

The Executive Director for the Puerto Rico Fiscal Agency and Financial Advisory Authority (FAFAA), Gerardo Portela-Franco, put out the RFQ.

Since mid-2014, former Gov. Alejandro García-Padilla’s administration had been working with financial advisor Millstein & Co. and legal firm Clearly Gottlieb Steen & Hamilton to negotiate with island creditors.

The government is moving ahead quickly with what presumably will be the selection of new advisers, setting the deadline to submit RFQs for Jan. 6 at 5 p.m.

Parties interested in submitting an RFQ may access FAFAA’s website for details: http://www.aafaf.pr.gov.

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