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News Oct 27, 2015

Shearman & Sterling Advises on Republic of Uruguay’s $1.7 Billion Notes Offering

Shearman & Sterling represented Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Itau BBA USA Securities, Inc. in the Republic of Uruguay’s $1,700,000,000 shelf takedown of its 4.375% Bonds due 2027.

Concurrent with the notes offering, the firm also advised Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Itau BBA USA Securities, Inc. as joint dealer managers on the Republic’s invitation to holders of its outstanding 9.250% U.S. Dollar-Denominated Global Bonds due 2017, 8.000% U.S. Dollar-Denominated Global Bonds due 2022, 4.500% U.S. Dollar-Denominated Global Bonds due 2024, and 6.875% U.S. Dollar-Denominated Global Bonds due 2025 to purchase such bonds with preference given to holders who agreed to purchase the Republic’s new bonds. 

The Shearman & Sterling team included partner Antonia Stolper (New York-Capital Markets) and associates Flavio Averbug (New York-Capital Markets), Jeffrey Tate (Washington, DC-Tax), Yesenia Judith Barberena (New York-Corporate) and international associate Maria Paula Souza (New York-Capital Markets).