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News Apr 25, 2016

Shearman & Sterling Advises Bookrunners on Argentina’s Historic $16.5 Billion Bond Issuance

Shearman & Sterling represented Deutsche Bank, HSBC, JP Morgan and Santander as global coordinators and BBVA, Citi and UBS as joint bookrunners on Argentina’s US$16.5 billion historic bond offering, the largest-ever bond issuance by an emerging market country. The bond offering marks Argentina´s return to the capital markets after years of being shut out due to ongoing litigation related to its sovereign default in 2002. Argentina used part of the bond sale, approximately US$9.4 billion, to repay its holdout creditors who had not participated in Argentina’s earlier restructurings, and the rest was for general sovereign purposes.

The Shearman & Sterling team included partners Antonia Stolper (New York-Capital Markets) and Henry Weisburg (New York-International Arbitration), associates Kevin Younai (New York-Capital Markets), Carla Russo (London-Capital Markets), Jeffrey Tate (Washington DC-Tax), Kammy Lai (Washington DC-Tax) and Shaina Schwartz (New York-Litigation), and visiting attorney Lili Abascal (New York-Capital Markets).

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