Banco Continental S.A.E.C.A.’s US$300 Million Notes Offering


Milbank LLP advised Banco Continental S.A.E.C.A. on the deal.

Banco Continental S.A.E.C.A. annnounced its offering of US$300 million aggregate principal amount of 2.750% senior notes due 2025. This was the first-ever sustainability bond by a Latin American financial institution.

Banco Continental is the largest Paraguayan financial institution in terms of total loans, with a 14% market share as of October 2020 according to Moody’s.

The Milbank deal team was led by Marcelo Mottesi (Picture), head of Milbank’s Global Capital Markets practice and co-head of the firm’s Latin America Group, with associates Andres Osornio and Jesus Narvaez. The team also included Tax partner Andrew Walker and associate David Hanno, Transportation & Space partner Dara Panahy and associates Bijan Ganji and Pinky Mehta and Executive Compensation partner Joel Krasnow.

Involved fees earner: Bijan Ganji – Milbank; David Hanno – Milbank; Joel Krasnow – Milbank; Pinky Mehta – Milbank; Marcelo Mottesi – Milbank; Jesus Narvaez – Milbank; Andres Osornio Ocaranza – Milbank; Dara Panahy – Milbank; Andrew Walker – Milbank;

Law Firms: Milbank;

Clients: Banco Continental S.A.E.C.A.;

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Author: Ambrogio Visconti