SOURCE: Birling Capital LLC

Birling Capital LLC

August 29, 2016 14:40 ET

Birling Expertise Is Ready for Promesa in Puerto Rico

SAN JUAN, PR--(Marketwired - August 29, 2016) - Birling Capital is active in all developments in Puerto Rico related to PROMESA and has organized the 1st PROMESA Conference with the Puerto Rico Chamber of Commerce. In addition, it regularly serves on panels throughout Puerto Rico and Stateside on different aspects relating to PROMESA.

The Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) was enacted as a broad federal law designed to bring fiscal stability to the Puerto Rican economy and provide for the oversight of budgetary and fiscal policies for at least the next five years.

PROMESA is intended to provide a method for Puerto Rico to achieve fiscal responsibility and access to the capital markets. PROMESA creates and appoints an Oversight Board to supervise Puerto Rico's central government, its instrumentalities' budgets and fiscal policies and directs and manages the restructuring of their obligations through out-of-court negotiations, or court proceedings that incorporate concepts from the federal Bankruptcy Code. PROMESA also appoints a revitalization coordinator, and includes provisions that overhaul the process for the review and permitting of certain infrastructure projects within Puerto Rico. PROMESA also imposes an "automatic stay" effective immediately, creates a U.S. Congressional Task Force for the economic growth of Puerto Rico, and requires certain reporting and analysis on Puerto Rico's debt and pension plan systems. In sum, PROMESA's reach is likely to impact significantly on a wide range of contracts, transactions and governmental decisions for at least the next five years.

Our deep knowledge of the capital markets combined with our multi-disciplinary team comprised of members from our Corporate Advisory, Financial Institutions, Restructuring, Mergers and Acquisitions, Public Private Partnerships, Government and Board of Directors Advice Groups enables us to follow the developments with respect to PROMESA closely. We are prepared to assist clients to plan for and navigate the complexities of the new law, and to help identify the business opportunities and challenges that will arise as the Oversight Board and the Task Force propose new directions and strategies for the fiscal stability of the government and the growth of the economy of the Commonwealth of Puerto Rico.

Birling Capital is a boutique corporate advisory & consulting firm that offers broad corporate finance & advisory services to institutional, government, corporate, middle-market companies, family corporations and their owners. Helping its clients in identifying and resolving corporate finance related issues as part of a holistic approach, with both assets and liabilities sides with integrated business, personal, family needs and objectives. Over the past two decades, our firm's principals have advised on more than 150 transactions in the corporate, healthcare, retail, education, insurance, banking and government markets.

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Contact Information

  • Contact:
    Francisco Rodriguez Castro
    President & CEO