Shearman & Sterling represented Itau BBA USA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated in connection with Banco Hipotecario S.A.’s tender offer, for cash, for any and all of its outstanding 9.75% notes due 2016, Series 5, as well as Banco Hipotecario’s note issuance of US$200,000,000 of its 9.750% notes due 2020, Series No. 29 under its US$800,000,000 global note program.
Established in 1886 by the Argentine government and privatized in 1999, Banco Hipotecario S.A. is a full-service, inclusive commercial bank, offering a wide range of banking products and activities and related financial services to individuals, small and medium-sized companies and large corporations.
Itau BBA USA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as dealer managers and initial purchasers in connection with the tender offer and notes offering respectively.
The Shearman & Sterling team included partner Antonia E. Stolper
(New York-Capital Markets); associates Kevin Younai (New York-Capital Markets), Carla Russo (London-Capital Markets) and Jeffrey Tate (Washington, DC-Tax); and visiting attorney trainee Alejandro Garcia (New York-Capital Markets).