PMA represents Banco Santander Puerto Rico in $242 Million Secured Credit Facility for SIFC

PMA partners Javier D. Ferrer and Antonio R. Molina represented Banco Santander Puerto Rico as lead lender and administrative agent in connection with the $242 million senior secured credit facility for the State Insurance Fund Corporation, a public corporation and government instrumentality of the Commonwealth of Puerto Rico, the first such loan from the private sector ever made to the public corporation in May 2011. The State Insurance Fund is the sole entity authorized by law to provide workmen’s compensation insurance in Puerto Rico.