NEW YORK – June 17, 2024 – Global law firm Greenberg Traurig, LLP advised Ecuadorian bank Banco del Pacifico S.A. on the issuance of a new series of notes under its diversified payment rights securitization program.
The $125 million Series 2024-1 Notes were issued by Ecuador Diversified Payment Rights, the program’s special purpose vehicle issuer, to several institutional investors in the Americas led by Banco Santander, S.A.. The transaction, which closed June 13, is the second instance Greenberg Traurig has advised on future flow securitization programs established by an Ecuadorian bank.
Founded in 1972, Banco del Pacifico is a financial institution that serves small and large businesses with a network of 1,077 locations. The bank’s main office is in Guayaquil, Ecuador.
The Greenberg Traurig team representing Banco del Pacifico was led by New York Corporate Shareholder Oscar Stephens with the support of New York Law Clerk Catalina Rodriguez Trout.