Popular to offer fixed-rate senior notes via three bookrunners

By Mary-Katherine Stinson

Lexington, Ky., March 8 – Popular, Inc. plans to offer senior notes via three bookrunners, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call until some months prior to maturity and then a par call.

BofA Securities, Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are the bookrunners.

Popular Securities, LLC is the senior co-manager.

Bank of New York Mellon is the trustee.

The company will use in-house counsel and Sullivan & Cromwell LLP as advisors. Sidley Austin LLP is counsel to the bookrunners.

Proceeds of this offering plus available cash, if necessary, will be used to redeem or repay $300 million of the company’s outstanding 6.125% senior notes due 2023. Any remaining proceeds will be used for general corporate purposes.

Popular is a financial institution based in San Juan, Puerto Rico.

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