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News Apr 28, 2014

Shearman & Sterling Advises on SURA Finance B.V.’s $500 Million Notes Offering

Shearman & Sterling represented SURA Asset Management S.A (“SUAM”) in connection with a private offering of $500 million aggregate principal amount of 4.875% Senior Guaranteed Notes due 2024 by SUAM Finance B.V., SUAM’s wholly owned subsidiary. The Notes are fully and unconditionally guaranteed by SUAM and four of SUAM’s other subsidiaries. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC acted as joint bookrunners in the transaction. This is SUAM’s inaugural offering in the capital markets after having been launched in December 2011 through Grupo Suramericana de Inversiones S.A. acquisition of ING’s wealth management holdings in Mexico, Colombia, Peru, Chile and Uruguay.

SUAM is the largest pension fund manager in Latin America, with a top three ranking in the Chilean, Mexican, Peruvian and Colombian markets, as measured by assets under management and number of clients. SUAM also participates in the mutual funds, life insurance and annuities markets in Latin America.

The following Shearman & Sterling team advised SUAM in the transaction: partner Antonia Stolper (New York-Capital Markets) and associates Grissel Mercado (New York-Capital Markets), Jeffrey Tate (Washington, DC-Tax), Matt Wochok (Washington, DC-Tax) and Antonio Herrera Cuevas (San Francisco-Capital Markets).

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