Shearman & Sterling represented Itau BBA USA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers in connection with the offering by Banco Hipotecario S.A. (“Banco Hipotecario”) of US$150 million 9.750% notes due 2020 under its US$800 million global note program. The notes will be part of the same series as, and will be fungible with, US$200 million aggregate principal amount of our 9.750% notes due 2020, Series No. 29 that Banco Hipotecario issued on November 30, 2015.

Established in 1886 by the Argentine government and privatized in 1999, Banco Hipotecario 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.  

The Shearman & Sterling team included partner Antonia E. Stolper (New York-Capital Markets); associates Kevin Younai (New York-Capital Markets), Antonio Herrera (San Francisco-Capital Markets), Jeffrey Tate (Washington, DC-Tax) and Eric Grosshandler (Washington, DC-Tax); and visiting attorneys Alejandro Garcia (New York-Capital Markets) and Lili Abascal (New York-Capital Markets).