Puerto Rico Lenders Said to Hire Davis Polk, Form New Group
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A group of Puerto Rico bondholders hired the law firm Davis Polk & Wardwell to protect their investments as the island seeks to restructure its $72 billion of debt, according to three people with knowledge of the matter.
At least four firms that own securities issued by the U.S. commonwealth’s Government Development Bank have joined the group, said two of the people, who asked not to be identified because the matter is private. The group includes Brigade Capital Management, Candlewood Investment Group, Fir Tree Partners and Perry Corp., said the people.