Shearman & Sterling represented Financiera de Desarrollo Territorial S.A. (“Findeter”), a state-owned development bank in Colombia, in connection with its Rule 144A/Regulation S offering of COP 946,175,000,000 aggregate principal amount of 7.875% Notes due 2024. Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint bookrunners in the transaction. This is Findeter’s first offering in the international capital markets.
Findeter plays a key role in the Colombian government’s programs to improve economic and social conditions and develop sustainable public services infrastructure throughout Colombia’s municipalities and departments.
The following Shearman & Sterling team advised Findeter in the transaction: partner Antonia Stolper (New York-Capital Markets); associates Grissel Mercado (New York-Capital Markets), Flavio Averbug (New York-Capital Markets), Katie Butler (New York-Corporate Group), Jeffrey Tate (Washington, DC-Tax), and Kammy Lai (Washington, DC-Tax); and visiting trainee Isla Smith (New York-Capital Markets).