banco cuscatlan

Publication Date:	lunes, octubre 9, 2006
News Title:	Consortium Central American Attorneys, assists El Salvador’s second largest financial institution Banco Cuscatlán in the refinancing of a series of certificates issued by Cuscatlan’s Master Trust
News Details:
Recently, partner Ricardo A. Cevallos and associate Beatriz Beltranena of Consortium Central America Attorneys in El Salvador, acted as external counsel to this placement. Consortium in El Salvador assisted and provided opinions to Banco Cuscatlan, the country’s leading bank in this transaction in the amounts of US$300 Million. One of the biggest transaction of the region. This transaction and restructuring was designed to simplify the actual program of certificates. Issues of the years 2002, 2003 and 2004 were pre-paid and the 2005 issuance was refinanced with an extension of the term to 2 more years. Cuscatlan is the second largest financial institution in El Salvador, with assets totaling US$2.5 billion and a market share in loans and deposits of 24% and 23%, respectively. Banco Cuscatlan is part of the UBCI Group, the second largest financial group in Central America with US$4.5 billion in assets and operations in Guatemala, Honduras, Costa Rica, Panama and El Salvador. Other attorney working in these transactions include Manuel Rodriguez, who acted as in-house counsel for Banco Cuscatlan.

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