Baker & McKenzie Advise Banco Popular Español on €500 Million Share Issue
Deal Announcement
September 18, 2009
London/Madrid, 18 September 2009 - Baker & McKenzie has advised Banco Popular Español S.A, Spain's third largest banking group, on its €500 million offering of new ordinary shares to institutional investors by way of an accelerated book-built offering, in accordance with Regulation S and Rule 144A.
The offering attracted significant international interest and resulted in the bank increasing its capital by 5.6% through the issue of shares which have been admitted to trading on the Madrid Stock Exchange.
The Baker & McKenzie team was led in Madrid by partner Enrique Carretero, assisted by associate Roberto Concha and in London by partners Edward Bibko and Tom Philipp, assisted by associate Kate Bennett Rea. The offering was underwritten by Credit Suisse (Uria Menendez as legal counsel), which was represented by Michael Willisch of Davis Polk & Wardwell, Madrid.
Commenting on the transaction, Edward Bibko said: "We are pleased to have had the opportunity to use our extensive experience in relation to accelerated equity offerings and block trades in the developing Spanish market. We are confident that this capital infusion will permit Banco Popular to grow its business and to go from strength-to-strength."