Press release content from BusinessWire. The AP news staff was not involved in its creation.
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Press release content from BusinessWire. The AP news staff was not involved in its creation.

Banco La Hipotecaria, S.A. (“Banco La Hipotecaria”) Announces the Closing of $11 Million of Covered Bonds Due in 2023

December 3, 2018

NEW YORK--(BUSINESS WIRE)--Dec 3, 2018--Brean Capital, LLC (“ Brean Capital ”) on behalf of its client, Banco La Hipotecaria, announces the issuance by Banco La Hipotecaria of $11,000,000.00 principal amount of 144A Covered Bonds, due September 15, 2023, with a quarterly coupon payment of 5.50%. The first coupon date is December 15, 2018, and the CUSIP is 059605AA3. The Covered Bonds are part of a $200 million program from which Banco La Hipotecaria may issue additional covered bonds from time to time. The Covered Bonds will be full-recourse obligations of Banco La Hipotecaria with additional recourse to a pool of residential mortgages assigned to a trust governed by Panamanian law. Banco La Hipotecaria will apply the net proceeds from this issue of Covered Bonds for its general corporate purposes. Brean Capital acted as the Sole Manager for the deal.

The Covered Bonds have not been registered under the Securities Act of 1933 (the “ Act ”) or the securities laws of any jurisdiction and may not be offered or sold in the United States absent an effective registration statement under the Act or pursuant to an applicable exemption from such registration requirements.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale is unlawful.

Cautionary Statements Concerning Forward-Looking Statements

This press release contains certain forward-looking statements that Brean Capital believes to be reasonable as of today’s date only. By their nature, these forward-looking statements involve risk and uncertainty because they relate to future events and circumstances including, but not limited to, Panama’s domestic and global economic and business conditions, the effect of continued volatility in credit markets, market related risks such as changes in interest rates and exchange rates, changes in the valuation of credit market exposures, changes in valuation of issued notes, the policies and actions of governmental and regulatory authorities, and other factors beyond the control of Brean Capital and La Hipotecaria. Brean Capital cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements.

About Banco La Hipotecaria

Banco La Hipotecaria, S.A. is a regulated banking institution domiciled in the Republic of Panama with subsidiary operations in El Salvador and Colombia.

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CONTACT: John Rauschkolb, +507-300-8541




SOURCE: Banco La Hipotecaria, S.A.

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PUB: 12/03/2018 12:30 PM/DISC: 12/03/2018 12:30 PM


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