Milbank LLP advised the initial purchasers in connection with the $300 million offering of 4.875% Subordinated Fixed-to-Fixed Rate Notes due 2031 (Callable 2026) by Banco Industrial, S.A. The Notes qualify as Tier 2 capital of the bank.
This transaction marked Banco Industrial’s return to the international bond markets for the first time in eight years.
The Milbank deal team was led by Marcelo Mottesi, Chair of Milbank’s Global Capital Markets practice and co-head of the firm’s Latin America Group, with associates Gonzalo Guitart and Connor Adams. The team also included Tax partner Andrew Walker and associate Corey Spector and Global Risk and National Security partner Dara Panahy and associate Pinky Mehta.
Mr. Mottesi said, “Milbank is pleased to have advised the initial purchasers in Banco Industrial’s oversubscribed return to the international bond market.”