Our Public Finance Practice Group represents corporate and governmental issuers and underwriters in offerings of municipal securities and other regulatory compliance matters under federal and Puerto Rico laws. In providing services to investment banking firms and other financial institutions, we have been engaged in the development of financial products and related structures tailored to the unique tax and legal environment of Puerto Rico. In addition, we provide legal counsel for the various other parties that may participate in the issuance of debt and equity securities. Among our most significant engagements in this field is our representation as local counsel for the GDB Debt Recovery Authority in the issuance of the $2.6 billion of GDB Debt Recovery Authority Bonds (Taxable) in November 2018, the first Qualifying Modification under Title VI of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) (certified by the Financial Oversight and Management Board, under Section 601(g)(2)(A) of PROMESA, and approved by the United States District Court for the District of Puerto Rico on November 7, 2018) and our representation of the Puerto Rico Aqueduct and Sewer Authority in the issuance of $1,300,000,000 of its Senior Revenue Bonds and the refunding of $284,755,000 of its Commonwealth Guaranteed Revenue Bonds in 2008 and $2,095,695,000 of its Senior Lien Bonds under an amended and restated Master Agreement of Trust in 2012.
