Pubco counsel here - one of our South American banks is asking for local audited financials as a "compliance/regulatory requirement." Is this something other pubcos typically share? Our consolidated financial statements are publicly available and would include this subsidiary. However, the local bank is insisting we provide this.

Curious what others do here?

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Sometimes banks will require this for legal purposes (ie they have to obtain to ensure they are compliant). In other aspects I would usually ask the bank to accept consolidated financials and give bank a Guaranty etc if for financing.

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Nothing you can do but pushback. You can’t give them audited statements that don’t exist. If it’s a SA company and statutory financials exist, you can offer that.

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