PMA acted as counsel to Popular, Inc. and Popular North America, Inc. in the restructuring of $233.2

PMA acted as counsel to Popular, Inc. (“Popular”), the leading banking institution by both assets and deposits in Puerto Rico, and its subsidiary Popular North America, Inc. (“PNA”), in the restructuring of the terms of $233.2 million of senior notes of PNA, guaranteed by Popular, that were originally issued in 2007 to various institutional investors. The restructuring, which was completed in June 2011, was handled by partners Eduardo J. Arias and Antonio J. Santos.