Milbank LLP advised on two major Latin American debt transactions totaling more than $1.3 billion, acting for the dealers in Banco de Crédito del Perú’s (“BCP”) $750 million notes offering and for the initial purchasers in Hunt Oil Company of Peru L.L.C., Sucursal del Peru’s (“Hunt Oil Company”) $630 million notes offering and concurrent tender offer.
Milbank represented the dealers in BCP’s offering of $750 million 6.450% subordinated fixed-to-fixed rate notes due 2035 (callable 2030). BCP is a leading commercial bank organized under the laws of the Republic of Peru.
The firm also advised the initial purchasers in Hunt Oil Company’s offering of $630 million 7.750% trust enhanced senior notes due 2038, as well as the dealer managers for the issuer’s tender offer to repurchase any and all of its 6.375% trust enhanced senior notes due 2028 and 8.550% trust enhanced senior notes due 2033. Hunt Oil Company is engaged in the exploration and production of oil and gas both in the US and internationally.
“These two complex, high-value transactions underscore the continued strength and global relevance of Latin American issuers in the international capital markets,” said Marcelo Mottesi, chair of Milbank’s Corporate Finance and Securities practice and co-head of the firm’s Latin America group.
The Milbank deal teams for both transactions were led by Mr. Mottesi, with support from Corporate Finance and Securities special counsel Gonzalo Guitart. Associates Mackenzie Martin and Pamela Molina assisted on the BCP deal, while associates Pamela Molina and Christelle Lobo supported the Hunt Oil transaction.
