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News Jan 03, 2014

Shearman & Sterling Advises on Republic of Panama’s $500 Million Bond Offering

Shearman & Sterling represented Citigroup Global Markets Inc. and J.P. Morgan Securities LLC on the Republic of Panama’s $500,000,000 shelf takedown of its 5.200% Bonds due 2020.

Concurrent with the notes offering, the firm also advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint dealer managers on the Republic’s tender offer to purchase any and all of its outstanding 7.250% U.S. Dollar-Denominated Global Bonds due 2015. The proceeds from the offering were used to purchase the notes tendered in the tender offer.

The Shearman & Sterling team included partners Antonia Stolper (New York-Capital Markets), Manuel Orillac (New York-Capital Markets), and Michael Shulman (Washington, DC-Tax); associates Shihani Soysa (New York-Capital Markets), Jeffrey Tate (Washington, DC-Tax), Flavio Averbug (New York-Capital Markets), and Judy Fisher (Washington, DC-Tax); and international associate Ivan Iais (New York-Capital Markets).

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