FOR IMMEDIATE RELEASE
NEW YORK, August 3, 2012 – International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partner Marcelo Mottesi, represented the underwriters in two separate ten-year Rule 144A/Regulation S financings with a combined total of $575 million.
Milbank advised Corporación Azucarera del Perú S.A. (Coazucar), the largest sugar producer in Peru, in its offering of $325 million 6.375% senior unsecured notes due 2022. The Lima, Peru-based company is using the proceeds to repay debt and for other general corporate purposes.
Milbank also advised BofA Merrill Lynch as underwriter in Banco GNB Sudameris S.A. (GNB Sudameris), a Colombian bank, in its $250 million debt offering of 7.5% subordinated notes due 2022. GNB Sudameris will use the proceeds of the issuance to strengthen its regulatory capital and general corporate purposes. GNB Sudameris, a mid-sized bank servicing personal, business and small and medium enterprise needs, recently announced that it will acquire HSBC’s operations in Colombia, Peru, Paraguay and Uruguay, a transaction that involves 62 offices and assets of approximately $4.4 billion.
Commenting on the deals, Mr. Mottesi said, “the two offerings signify the sustained investor appetite this year for successful Latin American businesses. We are pleased to be working with leading companies and underwriters in bringing to market offerings in the growing economies of Colombia and Peru.”
In addition to Mr. Mottesi, the Milbank team on the Coazucar transaction included securities partner Paul Denaro, associate Richard Mo and international attorney Hernando Becerra. Associate Adlin Castro and Mr. Becerra worked with Mr. Mottesi on the GNB transaction.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm providing innovative legal solutions to clients throughout the world for more than 140 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Singapore, Tokyo and Washington, DC.
The firm’s lawyers provide a full range of legal services to the world’s leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank’s lawyers meet the needs of our clients by offering a highly integrated and collaborative range of services across key practice groups throughout our global network. Milbank’s integrated practice is underpinned by our attorneys’ acknowledged technical excellence, sectoral expertise and a strong tradition of innovation and client service.
