Shearman & Sterling advised Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. as underwriters in connection with the Republic of Peru's SEC-registered reopening of its 5.625% Global Bonds due 2050 for an aggregate principal amount of US$500,000,000.

Shearman & Sterling also advised Citibank del Perú S.A. and Deutsche Bank (Perú) S.A. as initial purchasers and Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. as global coordinators and joint-bookrunners in connection with the Republic of Peru's Rule 144A and Regulation S reopening of its 6.95% Bonos Soberanos due 2031 for an aggregate principal amount of S/.1,614,918,000, of which S/.1,229,336,000 were sold in the form of global depositary notes (GDNs) by the global coordinators and joint-bookrunners.

The net proceeds from the offerings will be used by the Republic of Peru to support the balance of payments.

The following Shearman & Sterling attorneys advised Citigroup and Deutsche Bank Securities: partners Antonia Stolper (New York-Capital Markets) and Don Lonczak (Washington DC-Tax), associates Alejandro Gordano (New York-Capital Markets) and Jeffrey Tate (Washington DC-Tax) and international associate Pedro Gonzalez (New York-Capital Markets).