Milbank LLP counseled the initial purchasers in an offering of $300 million aggregate principal amount of 8.50% Senior Secured Notes due 2023 by holding company Gilex Holding S.à r.l. pursuant to 144A and Regulation S. The proceeds from the offering will be used to repay loans outstanding and for general corporate purposes, including the funding of potential investment opportunities.
The notes will be secured initially by a pledge on 50.01% of shares of Banco GNB Sudameris S.A., a universal bank in Colombia. The transaction closed on May 2.
The Milbank team was led by Marcelo Mottesi, head of Milbank’s Global Capital Markets practice and co-head of the firm’s Latin America Group, with support from associates Theo Hart, Delia Solomon and Felipe Barros Lima.
