FirstBank Puerto Rico’s parent company, First BanCorp, announced Monday it has amended the agreements struck with private equity firms Thomas H. Lee Partners, L.P., Oaktree Capital Management, L.P., and other investors to increase the amount of the proposed capital raise from $515 million to $525 million.

First Bancorp announced Tuesday it has entered into a definitive agreement with Oaktree Capital management to sell 24.9 percent of its common stock, for $175.5 million. The transaction comes a month after FirstBank’s parent company entered into a similar agreement with private equity firm Thomas H. Lee Partners, L.P.