Government Development Bank of Puerto Rico hires independent adviser

By Caroline Salls

Pittsburgh, July 6 – The Government Development Bank for Puerto Rico (the GDB) hired an independent registered municipal adviser for matters related to the Commonwealth of Puerto Rico and several instrumentalities and public corporations.

Specifically, the GDB said it is represented by Public Financial Management, Inc., which will give advice on capital financing transactions, including ongoing financial advice, transaction management, pricing and execution and advisory activity.

The adviser will also analyze and evaluate available transactions, strategies and policies.

Public Financial’s term as adviser runs through June 30, 2016.

According to the release, Public Financial will serve as adviser to the GDB on matters related to the Commonwealth of Puerto Rico, Government Development Bank for Puerto Rico (GDB), Children’s Trust, Employees Retirement System of the Government of the Commonwealth of Puerto Rico and its Instrumentalities, Puerto Rico Aqueduct and Sewer Authority, Puerto Rico Convention Center District Authority, Puerto Rico Electric Power Authority and Puerto Rico Highways & Transportation Authority.

Public Financial will also serve as adviser on matters related to Puerto Rico Housing Finance Authority, Puerto Rico Industrial Development Co., Puerto Rico Industrial, Tourist, Educational, Medical, and Environmental Control Facilities Financing Authority, Puerto Rico Infrastructure Financing Authority, Puerto Rico Municipal Finance Agency, Puerto Rico Municipal Finance Corp., Puerto Rico Public Buildings Authority, Puerto Rico Public Finance Corp., Puerto Rico Sales Tax Financing Corp., University of Puerto Rico and Puerto Rico Health Insurance Administration.

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