Hughes Hubbard Assists Banco Regional SAECA in $300M Debt Offering

Hughes Hubbard & Reed represented Banco Regional S.A.E.C.A, one of Paraguay's largest banks, in its issuance of $300 million senior notes due 2019. This was the bank's inaugural debt issuance in the international capital markets.
 
Sale of the notes, issued in the US under Rule 144A and outside the US under Regulation S, closed on Jan. 24. Banco Regional raised the proceeds for general corporate purposes and to fund the bank's long-term US dollar lending activities in Paraguay.
 
The transaction makes Banco Regional one of only a handful of Paraguayan issuers that have successfully conducted an offering in the international capital markets and the only one to be included in a J.P. Morgan index.
 
Headquartered in Encarnación, Banco Regional employs more than 600 people in 38 branches across Paraguay and historically has had the largest loan portfolio to the agricultural and livestock sectors of the Paraguayan economy. Banco Regional's largest shareholder is Rabobank, which holds a 40 percent ownership interest.
 
Freddie Goudie, Gary Simon, Andy Braiterman, Jim Delaney and Rafael Rosillo worked on this transaction.