Cleary Gottlieb represented Oriental Financial Group, a Puerto Rican bank holding company, in connection with its recent $54 million SEC-registered common stock offering and its recent $24 million SEC-registered preferred stock offering. The common stock offering launched on October 24, priced on October 25 and closed on October 31. The preferred stock offering launched and priced on October 31 and closed on November 5.
Oriental intends to use the net proceeds from these offerings to fund a portion of the purchase price for its previously announced acquisition of the Puerto Rico based operations of Banco Bilbao Vizcaya Argentaria, S.A.