Shearman & Sterling won Latin Lawyer’s Capital Markets Deal of the Year award for its work advising the underwriters in connection with the first-ever sovereign green bonds offerings in Latin America, issued by the Republic of Chile.
Shearman & Sterling represented Crédit Agricole Corporate and Investment Bank, J.P. Morgan Securities plc, and Société Générale as underwriters in connection with the SEC-registered offering by the Republic of Chile of €861 million aggregate principal amount of the Republic’s 0.830 percent notes due 2031.
Shearman & Sterling also represented BNP Paribas Securities Corp., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. as underwriters in connection with the SEC-registered offering by the Republic of Chile of $1.42 billion aggregate principal amount of the Republic’s 3.500 percent notes due 2050.
Concurrently, the Republic purchased for cash certain of its outstanding 3.875 percent notes due 2020, 3.25 percent notes due 2021, 2.250 percent notes due 2022, 3.125 percent notes due 2025, 3.125 percent notes due 2026, 3.625 percent notes due 2042 and 3.860 percent notes due 2047 through BNP Paribas Securities Corp., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. as dealer managers, which Shearman & Sterling also represented.
The proceeds from the bond sales were earmarked for projects that qualify as “eligible green expenditures” under the Republic’s Green Bond Framework.
This recognition demonstrates our firm’s expertise as an advisor to Latin America’s leading corporates, financial institutions and sovereigns in pioneering and market-transforming transactions.
As a leader in Latin American capital markets transactions, we have worked on some of the region’s most important green bonds, including the inaugural green bonds issued by both Banco Nacional de Desenvolvimento Econômico e Social and Central American Bank for Economic Integration. We have also advised on various other green bonds in the region, including for AES Gener, Banco Nacional de Costa Rica and Nacional Financiera S.A.