Banistmo S.A.’s $500 Million Notes Offering


Sullivan & Cromwell, Alemán, Cordero, Galindo & Lee and Cleary Gottlieb Steen Hamilton advised on the transaction

Banistmo S.A. issued $500 million in principal amount of 3.650 percent senior notes due 2022 as a private placement under Rule 144A of the Securities Act of 1933 and outside the United States in reliance on Regulation S. The offering priced on September 12, 2017, and closed on September 19, 2017.

Banistmo S.A. is a Panamanian financial institution and is a subsidiary of Bancolombia S.A.

J.P. Morgan and Morgan Stanley acted as initial purchasers.

Sullivan & Cromwell advised Banistmo S.A. with Robert Risoleo (Picture), Mark Ma, Laura Duncan and Joaquin Perez Alati.

Alemán, Cordero, Galindo & Lee – Alcogal advised Banistmo S.A. with Arturo Gerbaud, Rafael Marquínez and Rita de la Guardia.

Cleary Gottlieb Steen Hamilton advised J.P. Morgan and Morgan Stanley with Juan Giráldez, Francesca Odell, Elizabeth Freedman, Morgan White-Smith, Stephanie Lopes Schiavinato and Nicolás Vial.

Involved fees earner: Arturo Gerbaud de la Guardia – Alemán, Cordero, Galindo & Lee; Rafael Marquínez – Alemán, Cordero, Galindo & Lee; Rita de la Guardia – Alemán, Cordero, Galindo & Lee; Robert Risoleo – Sullivan & Cromwell; Joaquin Perez Alati – Sullivan & Cromwell; Laura Duncan – Sullivan & Cromwell; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Francesca Odell – Cleary Gottlieb Steen & Hamilton; Elizabeth Freedman – Cleary Gottlieb Steen & Hamilton; Morgan White-Smith – Cleary Gottlieb Steen & Hamilton;

Law Firms: Alemán, Cordero, Galindo & Lee; Sullivan & Cromwell; Cleary Gottlieb Steen & Hamilton;

Clients: JP Morgan; Morgan Stanley; Banistmo S.A.;

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Author: Ambrogio Visconti