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

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.

Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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