Banistmo’s $315.6 Million Loan Financing

Morgan & Morgan advised Banistmo, S.A., as Administrative Agent and Collection Agent, on the deal.

The transaction consisted of a loan agreement for an amount of up to US$315,601,312.14 between CitiGroup Global Markets, Inc. and UBS Securities LLC, as Joint Lead Arrangers and Bookrunners, various local and international banks as lenders, Banistmo, S.A., as Administrative Agent and Collection Agent to finance the acquisition by the borrower of the CDNOs.

The transaction included an agreement with Metro de Panama, S.A. to exchange the CDNOs, acquired in order to differ payment date, for consolidated CDNOs (“Aglutinados”).

Banistmo S.A. is one of the leading financial institutions in Panama and is a wholly-owned subsidiary of Bancolombia S.A., the largest bank in Colombia.

Morgan & Morgan advised Banistmo with a team led by Partner Kharla Aizpurua Olmos (Picture).

Involved fees earner: Kharla Aizpurua Olmos – Morgan & Morgan;

Law Firms: Morgan & Morgan;

Clients: Banistmo S.A.;

Author: Ambrogio Visconti.